Major electricals and home appliances manufacturer V-Guard Industries on Tuesday reported a consolidated net profit decline by 41.14 per cent to Rs 52.72 crore for the fourth quarter that ended in March 2023.
The company’s regulatory filing had posted a net profit of Rs 89.57 crore in the fourth quarter of the preceding year.
For the period under review, V-Guard’s operational revenues increased by 7.64 per cent to Rs 1,140.14 crore which was Rs 1,059.16 crore in the corresponding period a year ago.
The manufacturer’s total expenses increased by 11.31 per cent to Rs 1,070.70 crore in Q4 FY 2023. Its market in the south declined by 3.3 per cent, YoY whereas the non-south markets grew by 9.7 per cent, YoY in Q4 FY2023, said the company.
The non-south markets total revenues in Q4 FY 2023 increased by 45.7 per cent compared to 42.6 per cent in Q4 FY 2022.
The total income of the Kerala-based company stood at 7.62 per cent to Rs 1,142.77 crore.
For the financial ending as on March 2023, V-Guard’s net profit fell by 17.24 per cent to Rs 189.04 crore from Rs 228.43 crore in FY 2022.
Its consolidated revenue from operations in FY 2023 was marked at Rs 4,126.04 crore, an increase of 17.88 per cent.
V-Guard is a Kerala- based consumer goods company offerings diversified products across India.