Crompton Greaves' profit rises 8.6% to Rs 769.1 mn in September quarter

Crompton Greaves Consumer Electricals Thursday reported an 8.62 per cent increase in its net profit to Rs 769.1 million for the second quarter ended September 30, 2018.

The company had reported a net profit of Rs 708 million  in the July-September period a year ago, it said in a BSE filing.

Total income during the quarter under review stood at Rs 10.47 billion, up 8.76 per cent, as against Rs 9.63 bilion in the corresponding period of last fiscal.

Total expenses rose 8.66 per cent to Rs 9.32 billion from Rs 8.57 billion earlier.

Revenue from electric consumer durables segment was at Rs 7.12 billion, while lighting products contributed Rs 3.25 billion.

The company's Managing Director Shantanu Khosla said: "We have grown our core ECD business strongly and continued to grow margins in-spite of commodity cost pressures."

However, continuing price erosion and forex led input cost pressures have impacted margins adversely in lighting, he said.

"Widening the scope of operational efficiency programs has helped us manage some of these headwinds," Khosla added.

Shares of Crompton Greaves Consumer Electricals Thursday settled at Rs 199.25 on BSE, down 1.90 per cent.

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