CG Consumer Electricals' net profit at Rs 123 crore, up 17.6 pc y-o-y

Crompton Greaves Consumer Electricals said on Wednesday its profit after tax for first quarter (April to June) 2019-20 was at Rs 122.6 crore, up by 17.6 per cent year-on-year.

The profit after tax margin increased from 8.7 per cent in Q1 FY19 to 9.1 per cent in Q1 FY20. The company's total income for the quarter was Rs 1,346.8 crore, marking a growth of 11.9 per cent year-on-year largely driven by volume growth.

The electrical consumer durables (ECD) segment grew by 16 per cent, driven by strong performance in fans, pumps and coolers. LED lighting continued to see robust volume growth partly offset by price erosion. However, conventional lighting continued to decline.

"The ECD segment continued its strong growth and our ongoing efforts in driving innovation with the introduction of Aura Fluidic fan and Optimus desert cooler have helped sustain this momentum," said company's Managing Director Shantanu Khosla.

"We will continue to focus on new product launches and brand development in line with our objectives. Investments in B2B lighting are beginning to show results with a healthy order pipeline. Our cost reduction programme continues to deliver encouraging results, driving bottomline faster than topline," he said in a statement.

CG Consumer Electricals manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances like water heaters, coolers, mixer grinders and irons.