CG Power Q1 results: Net profit grows 57% to Rs 203.84 crore

CG Power and Industrial Solutions has posted a 57 per cent rise in consolidated net profit to Rs 203.84 crore in the April-June quarter of 2023-24, boosted by higher income.

It had posted a net profit of Rs 129.93 crore in the same period of 2022-23, the company said in a regulatory filing on Thursday.

The total income increased to Rs 1,896.15 crore from Rs 1,651.95 crore in the year-ago quarter.Expenses soared to Rs 1,633.59 crore in the first quarter of FY24 against Rs 1,485.29 crore a year ago.

CG is an engineering conglomerate with a diverse portfolio of products, solutions and services for power and industrial equipment and solutions.