V-Guard Industries has reported a modest rise in net profit for the third quarter, with earnings increasing by 3.4% to ₹60.22 crore compared to ₹58.24 crore in the same period last year.
The company’s revenue also saw an 8.9 per cent growth, reaching ₹1,268.65 crore from ₹1,165.39 crore a year ago.
Despite these gains, V-Guard faced a sequential decline from the second quarter, which had recorded a revenue of ₹1,293.99 crore. The net profit for that quarter stood at ₹63.39 crore, slightly higher than the third quarter’s ₹60.22 crore.
For the nine-month period ending December, the company posted a 22.7 per cent increase in net profit at ₹222.58 crore, compared to ₹181.41 crore during the same period last year.
The company’s shares closed 4.22 percent lower yesterday at ₹350 despite the profit growth. However, they bounced back today, trading at ₹359, marking a 1.50 per cent rise.
Amidst the growth in the company, Kochouseph Chittilappilly, the founder of V-Guard and Wonderla, stated that he will officially retire from his role as chairman emeritus on March 31.
Chittilappilly, who launched V-Guard in 1977 with an initial capital of just ₹1 lakh, has played a pivotal role in shaping the company into a brand valued at approximately ₹25,000 crore.
Over the years, his entrepreneurial footprint has expanded to other ventures such as Veegaland and Veegaland Homes.