Shares of V-Guard Industries rose on Monday after the company reported robust Q2 number for the quarter ending September 2016.
V-Guard Industries reported net profit at Rs 39 crores; showing an increase of 70% over corresponding period of last financial year. Check stock quote of V-Guard Industries.
The company's net revenue from operations stood at Rs 493 crores; an increase of 14% over corresponding period of last quarter.
Owing to better market conditions, products like Electric Water Heaters, Pumps, Fan and Digital UPS have done extremely well during the quarter under review. Onam season was positive with categories related to festive season doing well, the company said in the BSE release.
"We have improved the topline growth when compared with the corresponding quarter of the previous year. We will be expanding to the north markets and expand our range in the Kitchen and home appliances range to cater to a wider audience", Mr. Mithun. K. Chittilappilly, Managing Director said.
Shares of V-Guard Industries were seen trading at Rs 195, higher by 5.12 per cent on BSE at 1.55 pm IST. It touched an intra-day high and 52-week high of Rs 198.75 during trade.