India's V Guard posts quarterly profit climb on healthy electricals demand

Jan 28 - Indian electrical appliances maker V Guard Industries (VGUA.NS), opens new tab reported a 26% rise in its quarterly profit on Wednesday, aided by higher demand for wires and cables.

Consolidated profit before exceptional items and tax rose to 994.3 million rupees ($10.83 million) for the third quarter ended December 31, up from 787.4 million rupees a year earlier.

Demand for wires and cables stayed healthy on the back of increased infrastructure spending by the government and the private sector, as well as a strong real estate market.

Revenue from V Guard's electricals business, which accounts for more than 40% of its total revenue and sells cables, pumps and switches, climbed nearly 26% during the quarter.

The mean of analyst ratings standardized to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of the stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT$1 = 91.8050 Indian rupees.#FedWatch #ClawdbotSaysNoToken #TokenizedSilverSurge #TSLALinkedPerpsOnBinance #VIRBNB