CG Power Q2 Profit Down 10% to Rs 220 Cr - PTI

New Delhi, Oct 21 (PTI) CG Power and Industrial Solutions on Monday reported a nearly 10 per cent decline in its consolidated profit after tax to Rs 220 crore for three months ended September 2024.

Its profit after tax (PAT) was Rs 244 crore in the year-ago quarter.

Aggregate sales for the quarter increased 21 per cent to Rs 2,413 crore during the July-September quarter of the current fiscal from Rs 2,002 crore in the same quarter of 2023-24, the company said in a stock exchange filing.

The order intake for the second quarter rose 42 per cent to Rs 3,302 crore, and the unexecuted order backlog stood at Rs 7,965 crore (48 per cent higher year-on-year) as of September 30, 2024.

Its consolidated results include the performance of the operating subsidiaries in Sweden, Germany and Netherlands (Drives and Automation Europe), CG Adhesives Products (India), CG Semi (India), GG Tronics India and other non-operating and
holding subsidiaries.

On a standalone basis, the company's profit stood at Rs 223 crore, down from Rs 355 crore in the July-September quarter of FY24.

Aggregate sales for the quarter under review was Rs 2,270 crore, with a growth of 19 per cent on an annual basis.