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CG Power loss widens to Rs 85.98 cr in April-June quarter

Press Trust of India  |  New Delhi 

CG Power and Industrial Solutions consolidated net loss widened to Rs 85.98 crore for the quarter ended June 30, 2017 compared to the year-ago period.

The company had reported Rs 10.43 crore loss in the quarter ended June 30, 2016, CG Power and Industrial Solutions said in a filing today.

The company's total consolidated decreased to Rs 1,448.22 crore in the quarter from Rs 1,538.81 crore a year ago.

It said its board at a meeting held today approved the transfer of Madhav Acharya, Executive Director- and CFO of the company to Avantha Group with effect from August 12, 2017.

Acharya shall continue as a Non-Executive Director of the company till September 30, 2017.

Consequently the board has also approved the appointment of V R Venkatesh, Chief Financial Officer of the company's international operations, as Chief Financial Officer with effect from August 12, 2017, it added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 11 2017. 20:28 IST