Crompton Greaves Consumer Electricals Limited (CGCEL) today posted 39.29 per cent increase in its standalone net profit to Rs 57.36 cr for Q3 or third quarter ended December 31, 2016. The company had posted a net profit of Rs 41.18 cr in the October-December quarter a year-ago, the firm stated in a BSE filing. Its total income on standalone basis was up 9.73 per cent at Rs 888.92 cr in the quarter under review as compared to Rs 810.05 cr in the same period last fiscal.
Commenting on the results, CGCEL MD Shantanu Khosla said that both Electrical Consumer Durables and Lighting segments maintained growth momentum in spite of the challenging operating environment. He added that their margin expansion projects and continued focus on premiumisation have aided them expand their margin even during these testing times.
The total expense was up 8.49 per cent at Rs 792.25 cr as compared to Rs 730.23 cr last fiscal. Crompton's revenue from lighting product during Q3 of FY 2016-17 was up 4.67 per cent to Rs 284.40 cr as compared to Rs 271.71 cr, while electric consumer durables was up 12.29 per cent to Rs 604.52 cr as compared to Rs 538.34 cr. Crompton share price surged over 6 per cent intraday on the National Stock Exchange (NSE) today.
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