CG Consumer Electricals rises after Q1 result

Crompton Greaves Consumer Electricals was up 0.63% to Rs 229.95 at 14:40 IST on the BSE after the company's consolidated net profit rose 17.43% to Rs 122.44 crore Q1 June 2019 over Q1 June 2018.

The result was announced during trading hours today, 24 July 2019.

Meanwhile, the S&P BSE Sensex was down by 124.64 points, or 0.33% to 37,858.10.

On the BSE, 1.28 lakh shares were traded in the counter so far compared with average daily volumes of 3.03 lakh shares in the past two weeks. The stock had hit a high of Rs 232.15 and a low of Rs 225.25 so far during the day. It hit a 52-week high of Rs 272.25 on 14 August 2018 and a 52-week low of Rs 190.20 on 26 October 2018.

Crompton Greaves Consumer Electricals said that the revenue from operations grew by 11.87% to Rs 1346.84, the growth in revenue being largely driven by volume growth.

The company added that the electrical consumer durables (ECD) segment grew by approximately 16%, 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.

Commenting on the results, the company's managing director, Mr Shantanu Khosla said 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. We will continue to focus on new product launches and brand development in line with our objectives. In Lighting, we launched an 'Anti-bacterial bulb', based on a unique and meaningful consumer proposition, which has been very well received in the market. Investments in B2B Lighting are beginning to show results with a healthy order pipeline. Our cost reduction program continues to deliver encouraging results driving bottom line faster than topline.

Crompton is India's market leader in fans, No. 1 player in residential pumps and has leading market positions in its other product categories. The Company manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, coolers, mixer grinders and irons.

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