Crompton Greaves Consumer Electricals Q3 net up 14% at Rs 79 cr

Crompton Greaves Consumer Electricals Tuesday reported a rise of 14.63 per cent in standalone net profit to Rs 79.67 crore for the third quarter ended December 31, mainly driven by robust performance in the lighting segment.

The company had reported a net profit of Rs 69.50 crore in the October-December period a year ago, it said in a BSE filing.

Its total income during the quarter under review stood at Rs 1,042.69 crore, 10.35 per cent up from Rs 944.81 crore in the corresponding period last fiscal.

The company's total expenses were up 9.72 per cent at Rs 922.53 crore compared to Rs 840.77 crore.

Revenue from electric consumer durables (ECD) segment stood at Rs 711.55 crore, while lighting products contributed Rs 318.76 crore.

Commenting on the results, the company's MD Shantanu Khosla said: "Core ECD segment has shown strong profitable growth driven by focused launches in decorative fans category, complete refresh of geyser portfolio and strong implementation of 'Go-to-market' initiatives".

In Lighting, the LED segment posted healthy value growth underpinned by an even higher volume growth, he added.

Shares of Crompton Greaves Consumer Electricals on Tuesday settled at Rs 214.25 apiece on BSE, down 5.30 per cent.