Consumer electronics maker V-Guard Industries on Wednesday reported a 31 percent decline in consolidated net profit to Rs 53.92 crore for the third quarter ended December 31, 2021. The company had posted a consolidated net profit of Rs 78.25 crore in the same quarter last fiscal, V-Guard Industries said in a statement.

It posted a strong topline growth, but results were operationally weak. Speaking to CNBC-TV18 V Ramachandran, Director and COO of V-Guard Industries said, “The revenue progress has been positive for the quarter, and even year-to-date, and we have made reasonable progress. Demand environment continues to be better compared to the previous year and this is fundamentally happening as the markets are recovering.

He added, “We expect the growth sentiments to continue. As we get towards the latter half of February and March, demand should continue to revive.”

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