CG Power Q1 results: Net profit rises 21% to Rs 232.13 cr as sales increase

CG Power and Industrial Solutions Ltd on Wednesday reported a 21 per cent hike in its standalone profit after tax of Rs 232.13 crore for the April-June 2024 quarter.

The company, part of the diversified conglomerate Murugappa Group, had registered a profit after tax of Rs 192.06 crore during the corresponding quarter of last year.

For the financial year ending March 31, 2024 the standalone profit after tax stood at Rs 1,004.36 crore.

Total standalone income during the quarter under review grew to Rs 2,139.76 crore from Rs 1,791.91 crore registered in the corresponding quarter of last year. For the financial year ending March 31, 2024 the standalone total income stood at Rs 7,760.80 crore.

In a statement, the company said the aggregate sales for the quarter were higher at Rs 2,106 crore recording a growth of 19 per cent year-on-year. Margins were higher at 15.4 per cent of sales on account of higher realisations, favourable product mix and cost efficiencies in power systems.

Unexecuted order book as of June 30, 2024 was 44 per cent higher at Rs 7,054 crore as compared to Rs 4,909 crore as of June 30, 2023, the statement added.