Crompton Greaves Q2 Results: Profit surges 65% to Rs 124 crore

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The company posted a net profit of Rs 75.42 crore a year ago, according to a regulatory filing by Crompton Greaves Consumer Electricals Ltd (CGCEL).

Its revenue from operations jumped 18.15 per cent to Rs 2,263.29 crore in the September quarter from Rs 1,915.57 crore a year ago.

The revenue growth was "driven by double-digit growth in general trade, highest-ever quarterly sales in international business", said CGCEL in its earnings statement.

Moreover, its "EBITDA increased 24.1 per cent year-on-year to Rs 205 crore, delivering 9 per cent margin, driven by disciplined price increases, cost efficiencies and operating leverage amidst inflationary environments", it said.

CGCEL's total expenses increased 17 per cent to Rs 2,113.91 crore in the second quarter.

"This is Crompton's third consecutive quarter of strong double-digit growth across segments, with market share gains in key categories," said its MD and CEO Promeet Ghosh.

CGCEL's revenue from the electric consumer durable segment rose 19.36 per cent to Rs 1,634.49 crore.

This is the "highest quarterly growth in the last nine quarters led by robust growth in fans, conventional pumps, LDA (Large Domestic Appliances) and SDA (Small Domestic Appliances)", the company said.

Its revenue from its lighting products business increased 14.26 per cent to Rs 298.29 crore.

Revenue from its subsidiary Butterfly, acquired earlier in February 2022, climbed 15.87 per cent to Rs 330.51 crore. It has "healthy growth" with market gains in some of the segments.

The total consolidated income, which includes CGCEL's other income, surged 18.24 per cent to Rs 2,280.84 crore in the September quarter.

Shares of Crompton Greaves Consumer Electricals Ltd on Friday settled at Rs 217.20 per scrip on BSE, up 0.63 per cent.