V-Guard hits a new high
By
Research Desk
about 8 years ago
V-Guard Industries hit a new 52-week high today within moments of the opening bell at Rs.198.75. It has come off the high but remains firmly in the green, up over 5% at Rs.195 levels.
The reason for this euphoria is the very good performance which the company posted for Q2FY17. On a 14% (YoY) rise in total income at Rs.495 crore, the company posted a 69% jump in net profit at Rs.39 crore. EBITDA rose 46% at Rs.53 crore while margins jumped up from 8.4% t0 10.8%.
The good news is that for H1FY17, the company has already clocked a net profit of Rs.82 crore while it had ended FY16 with a net profit of Rs.112 crore; clearly indicating that with two more quarters to g, it will end current fiscal on a much higher note.