Crompton Greaves Consumer Electricals PAT doubles in Q3; stock up 2%

Crompton Greaves Consumer Electricals PAT doubles in Q3; stock up 2%
Crompton Greaves Consumer Electrical on Wednesday reported an increase in net profit by 102% to Rs161cr in the quarter ended December 2019 as against Rs80cr during the previous quarter ended December 2018.

Total income for the quarter was Rs1,071.2cr, a growth of 4% yoy.

Electrical Consumer Durables(ECD) segment grew by ~11%, driven by strong performance in Fans, Domestic Pumps and Appliances.

Volume growth in Lighting was in double digits; however, revenue declined due to price erosion.

Earnings before interest and taxes (EBIT) grew by 6% yoy and the margin was higher by 30 bps at 12.2%.

Commenting on the Quarter results, Company’s Managing Director Shantanu Khosla said “We continue to witness healthy double-digit growth momentum in ECD segment driven by new innovative launches while improved mix and cost initiatives helped us expand margins. Lighting segment continues to face top-line challenges primarily due to pricing pressure and macro factors.”

Crompton Greaves Consumer Electrical Ltd is currently trading at Rs262.50, up by Rs4.3 or 1.67% from its previous closing of Rs258.20 on the BSE.

The scrip opened at Rs264.90 and has touched a high and low of Rs266.40 and Rs262.25 respectively.




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