Crompton Greaves Q1 Results: Net profit falls 3.1% to Rs 122.03 crore

Crompton Greaves Consumer Electricals Ltd on Saturday reported a 3.11 per cent decline in its consolidated net profit to Rs 122.03 crore in the first quarter ended in June 2023. The company had posted a net profit of Rs 125.95 crore in the April-June quarter a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing.

Its revenue from operations increased marginally to Rs 1,876.85 crore during the quarter under review against Rs 1,862.94 crore in the year-ago period.

CGCEL's total expenses were at Rs 1,740.83 crore, up 2.81 per cent in the first quarter of FY 2023-24.

Its total income in the June quarter was Rs 1,896.65 crore, up 1.24 per cent.

In the June quarter, CGCEL's revenue from the electric consumer durables segment revenue was at Rs 1,428.98 crore compared to Rs 1,347.18 crore in Q1 FY23.

However, revenue from lighting products slipped 12.68 per cent to Rs 228.98 crore against Rs 262.26 crore.

While revenue from its new subsidiary Butterfly, which it had acquired earlier this year, was Rs 218.89 crore.