CG Power and Industrial Solutions Q4 PAT grows to Rs 428 crore, shares surge

Shares of CG Power and Industrial Solutions Ltd traded more than 1.5 per cent higher on Monday. The Street sentiment favoured buying in the power sector manufacturer as CG Power and Industrial Solutions consolidated profit after tax (PAT) rose multi-fold to Rs 428.22 crore in March quarter 2022-23 on account of increased income.

It had reported a PAT of Rs 111.65 crore for the year-ago quarter, the company said in a BSE filing.

Total income surged to Rs 1,917.05 crore from Rs 1,492.77 crore in January-March FY22. Total expenses rose to Rs 1,654.63 crore from Rs 1,358.03 crore a year ago.

CG Power stock price opened at Rs 306.75 per share and hit the day's high at Rs 312.90. The one-year return on CG Power is more than 77 per cent against a Nifty50 return of neary 10 per cent, as per trendlyne. CG Power had declared an interim dividend of Rs 1.50 per equity share on March 15, 2023, the website added.

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