Crompton Greaves Consumer Electrical jumps after reporting strong results on sequential basis

Crompton Greaves Consumer Electrical rose 5.10% to Rs 165 at 13:37 IST on BSE after net profit jumped 38.03% to Rs 91.94 crore on 11.90% increase in net sales to Rs 1120.84 crore in Q1 June 2016 over Q4 March 2016.

Meanwhile, the S&P BSE Sensex was down 116.81 points, or 0.42%, to 27,935.05.

On BSE, so far 1.76 lakh shares were traded in the counter, compared with average daily volume of 2.94 lakh shares in the past one month. The stock hit a high of Rs 175.70 so far during the day, which is a record high for the counter. The stock hit a low of Rs 162.50 so far during the day. The stock hit a record low of Rs 126.20 on 13 May 2016. The stock had outperformed the market over the past one month till 29 July 2016, rising 13.44% compared with 4.9% rise in the Sensex.

The mid-cap company has an equity capital of Rs 125.35 crore. Face value per share is Rs 2.

Separately in a press release giving comparative year on year figures, Crompton Greaves Consumer Electrical said that its total income rose 15.4% to Rs 1120.80 crore in Q1 June 2016 over Q1 June 2015. PBIT (profit before interest and tax) before corporate expenses and one-time items rose 24.4% to Rs 172.50 crore in Q1 June 2016 over Q1 June 2015. For comparison purposes, the company has considered the sales and segment EBIT (earnings before interest and tax) numbers of the consumer business as reported by Crompton Greaves in Q1 June 2015. (CGCEL) was formed as a result of the demerger of the consumer electronics and household appliances business of Crompton Greaves.

Shantanu Khosla, the company's managing director, said that the company has started the year continuing the momentum of last couple of quarters. The revenue growth of 15.4% in a seasonally strong quarter was led by strong performance in all key categories, he added.

Crompton Greaves Consumer Electrical manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaries to pumps and household appliances such as water heaters, mixer grinders, toasters, irons and electric lanterns.

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