V-Guard Industries shares surge 20% on 109% rise in net profit in Q4

V-Guard Industries shares surged as much as 20 per cent on Thursday after the company reported impressive 109.12 per cent rise in net profit figures at Rs 41.97 crore for the quarter ended March 2016.

Written by FE News Desk

New Delhi

Updated: May 5, 2016 17:05 IST

Arvind Ltd shares soared over 10 per cent intraday on Tuesday after the company informed bourses about its decision to raise about Rs 740 crore by diluting 10 per cent stake in its brand business arm, pegging its enterprise value at Rs 8,000 crore. (Photo: PTI)

V-Guard Industries shares surged 20 per cent on Thursday after the company reported impressive 109.12 per cent rise in net profit figures at Rs 41.97 crore for the quarter ended March 2016.

The company has posted net profit of Rs 20.07 crore in the same quarter last year.

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The company’s net sales rose 16.05 per cent year-on-year (yoy) to Rs 510.07 crore during the quarter under review as against Rs 439.53 crore in the same quarter of 2014-15.

For entire 2015-16 fiscal, its net profit stood at Rs 111.68 crore as against Rs 70.72 crore in the previous fiscal.

The share price of the company closed 20 per cent up at Rs 1,186.90.

In the past one year, shares of of V-Guard Industries slid 1.89 per cent to Rs 989.10 on May 4.

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This article was first uploaded on May five, twenty sixteen, at twenty-six minutes past one in the afternoon.