Crompton Greaves Q3 Profit Down 3.1% to Rs 85.45 cr

New Delhi, Feb 14 (PTI) Crompton Greaves Consumer Electricals Ltd on Wednesday reported a 3.1 per cent decline in its consolidated net profit to Rs 85.45 crore for the third quarter ended December 2023.

The company had posted a net profit of Rs 88.19 crore in the October-December quarter a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a regulatory filing.

However, its revenue from operations rose 11.63 per cent to Rs 1,692.69 crore in the quarter under review. It was Rs 1,516.21 crore in the year-ago period.

CGCEL's total expenses increased 12.22 per cent to Rs 1,596.90 crore in the December 2023 quarter.

The total consolidated income surged 11.17 per cent to Rs 1,709.36 crore.

In the December 2023 quarter, CGCEL's revenue from the electric consumer durables segment jumped 18.54 per cent to Rs 1,209.27 crore.

However, revenue from lighting products was flat at Rs 249.36 crore.

Revenue from its subsidiary Butterfly, which it had acquired earlier last year, was Rs 234.06 crore.

Shares of Crompton Greaves Consumer Electricals Ltd on Wednesday settled at Rs 285.65 apiece on BSE.