India’s V-Guard posts Q2 profit in line with estimates
India’s V-Guard Industries reported second-quarter profit on Tuesday in line with analyst estimates, as more Indians bought air conditioner stabilisers and inverters in a quarter that saw the country’s driest monsoon in over a century.
The electronic products manufacturer maker said its consolidated net profit rose to 589.5 million rupees ($7.08 million) in the quarter ended Sept. 30 from 436.6 million rupees a year earlier.
Analysts, on an average, had expected a profit of 589.3 million rupees, according to LSEG data. Consolidated revenue from operations rose 14.9% to 11.34 billion rupees.
