V-Guard nets profit

V-Guard Industries Limited, the electronic and electrical major, has reported a profit after tax of Rs 20.65 crore for the first quarter of the fiscal 2012-13.

The turnover of the company for the first quarter was Rs 329 crores, showing an increase of 37 per cent from Rs 240 crore in the same period last year.

The sales growth of the company has been driven by growth in sales of all product verticals owing to better than expected summer season. The margin improvement was due to better volume growth and tight cost control measures adopted by the company, said Mithun K Chittilappilly, managing director, V-Guard.

The company has launched domestic switch gears and induction cook tops in Kerala recently. V-Guard is also planning to launch new products in other states in a phased manner.