Companies

Crompton Greaves profit jumps 17%

Our Bureau Mumbai | Updated on July 24, 2019 Published on July 24, 2019

Crompton Greaves Consumer Electricals Ltd (CGCEL) reported a consolidated net profit of ₹122.44 crore during the first quarter of this year — up by 17.42 per cent from the ₹104.27 crore it posted in the year-ago period.

Total income rose to ₹1,364.14 crore (₹1,212.73 crore), registering a year-on-year growth of 12.48 per cent.

“ECD segment continued its strong growth and our ongoing efforts in driving innovation with the introduction of ‘Aura Fluidic’ fan and ‘Optimus’ desert cooler that have helped sustain this momentum. In Lighting, we launched an ‘Anti-bacterial bulb’ based on a unique and meaningful consumer proposition. Investments in B2B Lighting are beginning to show results with a healthy order pipeline. Our cost reduction programme continues to deliver results driving bottom line faster than topline,” said Shantanu Khosla, Managing Director, CGCEL.

“The Electrical Consumer Durables (ECD) segment grew by around 16 per cent, driven by strong performance in Fans, Pumps and Coolers. LED Lighting continued to see robust volume growth partly offset by price erosion. However, Conventional Lighting continued to decline,” the company said in a release.

Published on July 24, 2019
This article is closed for comments.
Please Email the Editor