V-Guard Industries Ltd announces unaudited financial results for Q2 2019

Consolidated Net Revenue from operations for the quarter ended September 30, 2019, was Rs. 623.27 crores; an increase of 3.1% over the previous year (Rs.604.50 crores).

V-Guard Industries Limited, India's leading consumer electrical and electronics company, announced the unaudited financial results for the quarter ended September 30, 2019.

Q2 FY 20 highlights:

· Consolidated Net Revenue from operations for the quarter ended September 30, 2019, was Rs. 623.27 crores; an increase of 3.1% over the previous year (Rs.604.50 crores).

· Consolidated Profit Before Tax for the quarter ended September 30, 2019, was Rs.78.48 crores; Increase of 62.6% over the previous year (Rs.48.27 crores).

· Consolidated Profit After Tax for the quarter ended September 30, 2019, was Rs.58.75 crores; Increase of 54.4% over the previous year (Rs.38.04 crores).

· During the quarter, Stabilizer and electrical segment registered growth. Overall, subdued consumer demand impacted top-line growth.

· Non-South markets contributed 37% of turnover for the quarter, up from 35.7% in the corresponding quarter of the previous year.

· Results for the quarter include a writeback of Rs.10.12 crores of ESOP provisions no longer required.