New Delhi, Crompton Greaves Consumer Electricals Ltd on Thursday reported 1.4 per cent rise in consolidated net profit at Rs 133.43 crore in the March 2024 quarter.
Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing, the company had reported a consolidated net profit of Rs 131.55 crore a year ago.
During the quarter under review, consolidated revenue from operations stood at Rs 1,961 crore, up from Rs 1,790.96 crore in the year-ago period.
Electric consumer durables (ECD) segment revenue stood at Rs 1,515.9 crore, compared to Rs 1,325.74 crore in the same period a year ago.
Lighting products revenue in the quarter stood at Rs 281.1 crore, slightly up from Rs 278.57 crore in FY2013.On the other hand, revenue from Butterfly, which it earned last year, declined to Rs 163.9 crore in the fourth quarter compared to Rs 186.65 crore in the year-ago period, the filing said.
Total expenditure increased to Rs 1,808 crore from Rs 1,637.3 crore in the same period a year ago.
The company said the board of directors has recommended a final dividend of Rs 3 on each equity share of Rs 2 for the financial year ending March 31, 2024, subject to the approval of shareholders in the upcoming annual general meeting.
For the financial year ending March 31, 2024, consolidated net profit stood at Rs 441.78 crore, down from Rs 476.4 crore last year.
In FY24, consolidated revenue from operations was Rs 7,312.81 crore, while in FY23 it was Rs 6,869.61 crore.Promeet Ghosh, Managing Director and CEO, CGCEL, said the company has delivered a strong performance in ECD with double digit growth for the third consecutive quarter coupled with strong improvement in EBIT margins. Despite the price decline, the lighting business is showing signs of stabilization with revenue growth in the second half.
On the outlook, he said, “We expect the intense summer season and increased demand for home and kitchen appliances to support growth momentum, while we continue to invest in growth initiatives."
Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing, the company had reported a consolidated net profit of Rs 131.55 crore a year ago.
During the quarter under review, consolidated revenue from operations stood at Rs 1,961 crore, up from Rs 1,790.96 crore in the year-ago period.
Electric consumer durables (ECD) segment revenue stood at Rs 1,515.9 crore, compared to Rs 1,325.74 crore in the same period a year ago.
Lighting products revenue in the quarter stood at Rs 281.1 crore, slightly up from Rs 278.57 crore in FY2013.On the other hand, revenue from Butterfly, which it earned last year, declined to Rs 163.9 crore in the fourth quarter compared to Rs 186.65 crore in the year-ago period, the filing said.
Total expenditure increased to Rs 1,808 crore from Rs 1,637.3 crore in the same period a year ago.
The company said the board of directors has recommended a final dividend of Rs 3 on each equity share of Rs 2 for the financial year ending March 31, 2024, subject to the approval of shareholders in the upcoming annual general meeting.
For the financial year ending March 31, 2024, consolidated net profit stood at Rs 441.78 crore, down from Rs 476.4 crore last year.
In FY24, consolidated revenue from operations was Rs 7,312.81 crore, while in FY23 it was Rs 6,869.61 crore.Promeet Ghosh, Managing Director and CEO, CGCEL, said the company has delivered a strong performance in ECD with double digit growth for the third consecutive quarter coupled with strong improvement in EBIT margins. Despite the price decline, the lighting business is showing signs of stabilization with revenue growth in the second half.
On the outlook, he said, “We expect the intense summer season and increased demand for home and kitchen appliances to support growth momentum, while we continue to invest in growth initiatives."
