CGCEL Q3 net profit falls 40 pc to Rs 88 crore

Crompton Greaves Consumer Electricals Ltd on Thursday reported a 40 per cent decline in consolidated net profit at Rs 88.19 crore in the December quarter impacted by higher expenses.

The company had posted a consolidated net profit of Rs 148.26 crore in the year-ago period, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing.

Consolidated revenue from operations during the quarter under review stood at Rs 1,516.21 crore as against Rs 1,410.59 crore a year ago, it added.

Total expenses were higher at Rs 1,422.92 crore, up from Rs 1,225.9 crore in the third quarter last fiscal, it added.

Electrical consumer durables segment clocked revenue of Rs 1,020.10 crore in the third quarter, down from Rs 1,099.26 crore in the same period last year.

Lighting products revenue was at Rs 247.68 crore, down from Rs 311.33 crore in the year-ago period, it added.

Revenue from sales of products of Butterfly Gandhimathi Appliances Ltd, which it had acquired last year, stood at Rs 248.43 crore, the company said.

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