Consumer electronics maker V-Guard Industries has reported a 31 per cent decline in consolidated net profit to Rs 53.92 crore for the third quarter ended December 31, 2021.
The company had posted a consolidated net profit of Rs 78.25 crore in the same quarter last fiscal, V-Guard Industries said in a statement.
Its consolidated revenue from operations during October-December 2021 stood at Rs 967.38 crore, compared with Rs 835.04 crore in the year-ago period, it added.
While consumer durables and kitchen appliances grew well, hyperinflation in input costs has had some impact on gross margins, the company said.
According to the company spokesperson, it is expected that the quarter has begun with good momentum and the expansion had muted in direction of the top of the quarter with the beginning of the third wave.
If you have an interesting Article / Report/case study to share, please get in touch with us at editors@roymediative.com/ roy@roymediative.com , 9811346846/9625243429.