Q1 Results: V-Guard Expects To Maintain 15% Revenue Growth In 2019-20
V-Guard Industries won’t change its top line outlook because of one quarter, says CFO Sudarshan Kasturi.
V-Guard Industries Ltd. expects to maintain its revenue growth at 15 percent for 2019-20, the company’s Chief Financial Officer Sudarshan Kasturi told BloombergQuint.
Revenue of the electrical appliances manufacturer rose 10.2 percent year-on-year to Rs 699.4 crore in the June quarter, in line with the Rs 714.4-crore estimate of analysts tracked by Bloomberg.
The sales, according to Kasturi, were hit by the electricals business, which saw destocking of wires due to a downward trend in copper prices. Revenue from the electricals business slumped 10 percent year-on-year to Rs 236.2 crore for the three months ended June, according to the company’s exchange filing.
The company, Kasturi said, wouldn’t change its top line outlook because of one quarter.
V-Guard Q1 Results 2019-20: Highlights (standalone, year-on-year)
- Revenue rose 10.2 percent to Rs 699.4 crore versus Rs 634.9 crore.
- Net profit jumped 52.6 percent to Rs 52.5 crore versus Rs 34.4 crore.
- Ebitda was up 53.2 percent at Rs 71.1 crore versus Rs 46.4 crore.
- Margin stood at 10.2 percent versus 7.3 percent.
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