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Crompton Greaves Consumer Electricals (CGCEL), consumer durables manufacturer reported a net profit of Rs 76.91 crores, posting a net increase of 8.6 per cent year-on-year (YoY) growth during the July-September quarter of the current fiscal year.
The total revenue of the company for the quarter under review was up by 8.7 per cent YoY to Rs. 1,047.66 crores. Among the segments, electric consumer durables witnessed a growth rate of 14.6 per cent YoY, registering Rs 712.82 crores in revenue. Lighting products’ revenue declined to Rs 325.01 crores, posting downfall of 3.8 per cent (YoY).
According to the Managing Director of CGCEL, Shantanu Khosla, the firm has grown their core electric consumer durables business strongly and continued to grow margins in-spite of commodity cost pressures.
He stated, “Continuing price erosion and forex led input cost pressures have impacted margins adversely in lighting. Widening the scope of operational efficiency programs has helped us manage some of these headwinds.”
In a press release by CGCEL, stated, “The PAT margin remained constant at 7.4 per cent despite input cost pressures and continued price erosion in LED lighting. It was achieved through sustained cost reduction efforts and by improving overall efficiency.”
