V-Guard shares trade lower despite 35% surge in Q2 net profit

The share touched a 52-week high of Rs 335.35 and a 52-week low of Rs 230.25 on 09 August, 2023 and 02 February, 2023, respectively.

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The share price of V-Guard Industries went down marginally in early trade on November 1 despite reporting better numbers for the quarter ended September 2023.

At 9:20am, V-Guard Industries was quoting at Rs 297.95, down Rs 0.95, or 0.32 percent, on the BSE.

The company on October 31 reported 35 percent jump in its consolidated net profit at Rs 58.95 crore in the second quarter ended September 2023 from Rs 43.66 crore last fiscal. Its revenue from operations increased 14.92 percent to Rs 1,133.75 crore against Rs 986.55 crore last year. The company’s total expenses stood at Rs 1,070.38 crore in the September quarter, up 15.06 percent year-on-year.

Its revenue from electronics was at Rs 255.09 crore and Rs 462.28 crore from electricals and consumer durables contributed Rs 354.66 crore during the July-September period. The company’s total income in the September quarter was at Rs 1,147.91 crore, up 16 percent.

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The share touched a 52-week high of Rs 335.35 and a 52-week low of Rs 230.25 on August 9, 2023 and February 2, 2023. The stock is trading 11.15 percent below its 52-week high and 29.4 percent above its 52-week low.