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V-Guard Q2 net profit up 17.7 pc to Rs 69.4 cr

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NewsDrum Desk
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New Delhi, Oct 29 (PTI) Electrical goods manufacturer V-Guard Industries Ltd on Tuesday reported a 17.7 per cent rise in consolidated net profit to Rs 69.39 crore in the September quarter.

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It posted a net profit of Rs 58.95 crore in the July-September period last fiscal, according to a regulatory filing.

The company's revenue from operations rose 14.13 per cent to Rs 1,293.99 crore during the period under review. It was Rs 1,133.75 crore in the corresponding period a year ago.

Total expenses of V-Guard in the September quarter were up 13.36 per cent to Rs 1,213.42 crore.

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Its total income, which includes other incomes, was up 13.07 per cent at Rs 1,298.04 crore in the September quarter.

Its Managing Director Mithun K Chittilappilly said the business has delivered healthy topline growth during the quarter led by the electronics segment.

"Gross margins continue to improve aided by a higher share of in-house manufacturing, cost-saving initiatives and gradual shift towards a premium portfolio. Margins for wires, which is the largest category in the electricals segment, was impacted during the quarter due to volatile copper prices," he said.

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The company expects to continue the momentum and deliver a strong performance in the second half of the fiscal, he added.

Shares of V-Guard Industries Ltd settled 3.44 per cent higher at Rs 427.90 on the BSE. PTI KRH KRH SHW

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