Electric consumer product manufacturer, Crompton Greaves Consumer Electricals (CGCEL) on Friday reported a consolidated net profit decline by 25.48 per cent at Rs 131.55 crore from Rs 176.55 crore last year in the fourth quarter that ended in March 2023.
The company’s operational revenue increased by 15.7 per cent during the quarter under review against Rs 1,547.82 crore in the year-ago period. Subsequently its total expenses in Q4 FY23 jumped by 21.8 per cent to Rs 1,637.30 from Rs 1,344.18 crore a year ago.
CGCEL’s total income in the March quarter marked a 15.13 per cent increase at Rs 1,807.73 crore.
Commenting on the quarter results, Crompton Greaves Consumer Electricals, MD, and CEO, Promeet Ghosh said, with our calibrated approach we were able to deliver well in Q4 towards BEE transition.
The fourth quarter further marked increased revenue for the manufacturing company’s electric consumer durables segment at Rs 1,325.74 crore, a 7.7 per cent rise to Rs 1,325.74 crore in comparison to Rs 1,230.90 crore in Q4 FY22.
Meanwhile, company’s revenue from lighting products witnessed a downfall by 12.12 per cent to Rs 278.57 crore against Rs 317.02 crore.