V-Guard Net Surges 47%

V-Guard Net Surges 47%The net profit of V-Guard Industries Limited grew by 46.85% to Rs 25.47 crore during the last fiscal (2009-10) as compared to Rs 17.35 crore during the previous fiscal.

During the company’s Annual General Meeting (AGM), the directors sanctioned 30% final dividend on the paid-up capital for the financial year 2009-10.

The profit before tax (PBT) of the leading electronic and electrical equipment maker surged 50.36% to Rs 39.51 crore for the period under review as against Rs 26.28 crore last year.

The company’s net turnover during the year recorded an increase of 43.35% at Rs 454.09 crore as against the turnover of Rs 316.78 crore for the previous year.

Mr. Kochouseph Chittilappilly, company’s Managing Director stated that the company has productively finished all the projects envisaged in the IPO’s offer document except for service and distribution facilities at Hubli, Karnataka and Vijayawada, Andhra Pradesh that were likely to be finished by the end of 2010-11.

Mr. Mithun K Chittilappilly, Executive Director, said the increase in the net turnover could be attributed to increased sales from new markets and also due to favourable market conditions.

The Annual General Meeting also sanctioned the appointment of Dr. George Sleeba as Joint Managing Director for 3 year term from June one, 2010.  (With Inputs from Agencies)