CG Power Q4 Profit Down 10% to Rs 234 Cr - Business News
By Rediff Money Desk, New Delhi May 06, 2024 14:56
CG Power and Industrial Solutions reports a 10% decline in Q4 FY24 profit to Rs 234 crore due to higher expenses. Revenue rose to Rs 2,239.83 crore.
New Delhi, May 6 (PTI) CG Power and Industrial Solutions on Monday reported 10 per cent dip in consolidated net profit to Rs 234 crore for March quarter FY24, mainly due to higher expenses.
Its net profit (from continuing operations) was Rs 260 crore in the quarter ended March 31, 2023, a regulatory filing said.
Total income rose to Rs 2,239.83 crore from Rs 1,917.05 crore in the year-ago period.
Total expenses also surged to Rs 1,932.80 crore from Rs 1,654.63 crore in the same period a year ago.
However, consolidated net profit (from continuing operations) rose to Rs 871 crore in fiscal 2023-24 from Rs 796 crore in 2022-23.
Total income in the fiscal increased to Rs 8,152.24 crore from Rs 7,040.30 crore a year ago.
The results include the performance of the operating subsidiaries in Sweden, Germany and the Netherlands (Drives and Automation Europe), CG Adhesives Products Ltd (India), CG Semi Pvt Ltd (India) and other non-operating and holding subsidiaries.
The company is an engineering conglomerate with a diverse portfolio of products, solutions and services for power and industrial equipment and solutions.
Its net profit (from continuing operations) was Rs 260 crore in the quarter ended March 31, 2023, a regulatory filing said.
Total income rose to Rs 2,239.83 crore from Rs 1,917.05 crore in the year-ago period.
Total expenses also surged to Rs 1,932.80 crore from Rs 1,654.63 crore in the same period a year ago.
However, consolidated net profit (from continuing operations) rose to Rs 871 crore in fiscal 2023-24 from Rs 796 crore in 2022-23.
Total income in the fiscal increased to Rs 8,152.24 crore from Rs 7,040.30 crore a year ago.
The results include the performance of the operating subsidiaries in Sweden, Germany and the Netherlands (Drives and Automation Europe), CG Adhesives Products Ltd (India), CG Semi Pvt Ltd (India) and other non-operating and holding subsidiaries.
The company is an engineering conglomerate with a diverse portfolio of products, solutions and services for power and industrial equipment and solutions.
Source: PTI
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Vodafone Idea L
- 9.80 ( -0.71)
- 44492337
- G V Films
- 0.94 (+ 9.30)
- 37404318
- Jaiprakash Power Ven
- 19.44 ( -3.38)
- 30530141
- Spicejet Ltd.
- 62.79 ( -4.25)
- 22824171
- Srestha Finvest
- 0.89 (+ 4.71)
- 21696619
MORE NEWS
PFC Secures USD 1.265 Billion Foreign Currency...
Power Finance Corporation (PFC) has secured a USD 1.265 billion foreign currency term...
Sensex, Nifty Slump on FII Outflows, West Asia...
Indian stock markets tumbled on Friday, led by selling in FMCG, auto and energy stocks...
Govt Weighs Herbicide-Tolerant BT Cotton,...
India's government is considering allowing herbicide-tolerant BT cotton and glyphosate...