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V-Guard Industries' Q3 net dips 47% at Rs 9 cr

By Religare
|

V-Guard Industries Ltd, an electrical goods maker reported that its net profit fell by 47 per cent at Rs 9.23 crore in the third quarter ended December 31, 2014 from the same period a year ago amid disappointing sales growth, a 50 per cent hike in advertising spends and a write-down on inventories.

In Q3 FY 2013-14, the company posted a net profit of Rs 17.53 crore, V-Guard Industries Ltd said in a filing to the Bombay Stock Exchange (BSE).

 

Net income from operations climbed by 12 per cent in Q3 FY 2014-15 at Rs 395 crore from Rs 353 crore in the same period a year ago as consumers put off their purchases in expectations of a price cut due to falling copper prices.

Total expenses of the company climbed by 15 per cent at Rs 377.6 crore in Q3 FY 2014-15 from Rs 327 crore in the same period a year ago as advertising spends rose to nearly Rs 13 crore from Rs 7 crore to promote a new water heater which was launched.

The company wrote down nearly Rs 6.5 crore on its copper inventories as copper prices fell over 10 per cent in the third quarter ended December 31, 2014.

Story first published: Monday, January 19, 2015, 12:50 [IST]
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