Special Correspondent

KOCHI: V-Guard Industries logged a net profit of Rs.25.47 crore for the financial year 2009-10.

A meeting of the board of directors of the company adopted the audited financial results, a press release here says.

Backed by a growth in the white goods and other electronics and electrical segments, the company's net profit surged by 46.85 per cent to Rs.25.47 crore during the year from Rs.17.35 crore during 2008-09.

Profit before tax increased by 50.36 per cent to Rs.39.51 crore from Rs.26.28 crore. The net turnover was Rs.454.09 crore, a growth of 43.35 per cent from the Rs.316.78 crore of the previous year.

Considering the improved profits, the board recommended a dividend of 30 per cent, or Rs.3 an equity share, which would be subject to the approval of the shareholders in their coming annual general meeting.

Mithun K. Chittilappilly, executive director of the company, said the increase in net turnover could be attributed to better penetration of the north Indian markets and also stretching the wings to tie-2 and -3 cities of the existing south Indian markets. All products contributed well to the turnover and the outlook seemed good.