CG Power reports Q3 standalone PAT at Rs 360 cr

CG Power and Industrial Solutions Ltd on Thursday reported standalone profit after tax at Rs 360 crore for the quarter ending December 31, 2021.The Murugappa Group company had reported standalone PAT at Rs 381 crore during corresponding quarter previous year, CG Power and Industrial Solutions said in a statement.


PTI | Chennai | Updated: 27-01-2022 17:27 IST | Created: 27-01-2022 17:27 IST
CG Power reports Q3 standalone PAT at Rs 360 cr
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CG Power and Industrial Solutions Ltd on Thursday reported standalone profit after tax at Rs 360 crore for the quarter ending December 31, 2021.

The Murugappa Group company had reported standalone PAT at Rs 381 crore during corresponding quarter previous year, CG Power and Industrial Solutions said in a statement. Sales during the quarter, on a standalone basis, surged to Rs 1,446 crore from Rs 703 crore registered same quarter last financial year. For the year to date period PAT on standalone stood at Rs 518 crore as against net loss at Rs 160 crore during corresponding period last fiscal.

Sales for the year to date period ending December 31, 2021 grew to Rs 3,752 crore from Rs 1,504 crore.

In a statement, CG Power and Industrial Solutions Ltd said, the company has shown all round improvement in performance in Q3 and all the businesses have performed satisfactorily, improving sales and margins.

Sales for the quarter was at Rs 1,446 crore and the profit before tax was at Rs 161 crore, the highest recorded in the last 20 quarters, the company said.

CG Power and Industrial Solutions completed the long pending sale of land at Kanjurmarg (near Mumbai) during this quarter and the entire sale proceeds of Rs 402 crore, including refund of security deposit has been received. The proceeds were utilised to prepay long term debt of Rs 363 crore, it said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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