The net sales of V Guard for the second quarter ended 30th September 2008 was Rs831.2mn, i.e. registering a growth of 29.31% compared to Rs642.8mn for the corresponding quarter of the previous year. The Board of Directors of V-Guard Industries Ltd, the largest manufacturer of voltage stabilizers in India, and other electronic.. and electrical equipments, met at Cochin on 29th October, 2008 and adopted the unaudited financial results for the first half year ended 30th September 2008. The net sales of the Company for the second quarter ended 30th September 2008 was Rs831.2mn, i.e. registering a growth of 29.31% compared to Rs642.8mn for the corresponding quarter of the previous year.

The profit before tax of the Company for the second Quarter was Rs74.1mn showing a growth of 22.16%, over the profit of the second quarter of the previous year Rs60.6mn. (Excluding the exceptional income amounting to Rs297mn received by way of sale of land).

The net sales of the Company for the first half of the year was Rs1.62bn compared to Rs1.31bn, showing a growth of 23.52%. The profit before tax of the Company for the first half of the current year has increased to Rs159.6mn showing an increase of 14.89% over the profit for the corresponding first half of the previous year Rs138.9mn. (Excluding the exceptional income amounting to Rs.2970.74 lacs received by way of sale of land)

Commenting on the financial results, Kochouseph Chittilappilly, Managing Director said, “Aggressive growth strategy adopted by the company by expanding its reach across the country- especially in the Northern region has paid off.”

During the last fiscal, the Company made a rapid expansion by opening new branches in various parts of North India and also enhanced the production facilities in the other parts of the country. The said expansion contributed for a substantial growth in the turnover from North India, when compared with the corresponding quarter of the previous year.

The new factories of the Company for manufacturing building wire cable at Uttarakhand and L T Power Control cable at Coimbatore are almost on the completion stage and are expected to commence the trial production by the end of December, 2008.

The other projects, Pilot production Plants for Water Heaters and Fans at Himachal Pradesh and Distribution Center at Hubli and Vijayawada are expected to be completed by first half of next fiscal.

source: Indiainfoline

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• V-Guard registers net sales rise of 17.98%
• Logix Microsystems Q2 net profit up 12% YoY
• RCOM cons Q2 net profit up 17% yoy
• Era Infra Q2FY09 net profit up 44% YoY
• E.I.D.Parry net profit at Rs6.118bn