Crompton Greaves Announces Results For Quarter Ended December 2018

The Board of Directors at its meeting held on 29th January 2019 approved the results of the Company for the quarter ended 31st December 2018. Total Income for the quarter was Rs. 1,030.3 cr, a growth of 9.8 percent year on year (y-o-y). Electrical Consumer Durables segment grew by 16.3 percent, driven by strong performance in our core decorative and eco fans and pumps segments.

Profit after tax for Q3FY19 was at Rs 79.7 cr., up by 14.6 percent. PAT margin went up from 7.4 percent in Q3FY18 to 7.7 percent in the current quarter majorly due to our sustained cost reduction efforts and improvement in overall efficiency.

Commenting on the Quarter results, Company’s Managing Director Shantanu Khosla said “Core ECD segment has shown strong profitable growth driven by focused launches in Decorative fans category, a complete refresh of Geyser portfolio and strong implementation of ‘Go-to-market’ initiatives. In Lighting, the LED segment posted healthy value growth underpinned by even higher volume growth. Accelerated cost savings program, through efficiency in purchase and operations, is reflected in our improved margins in Lighting segment.”

Shares of Crompton Greaves Consumer Electricals Ltd was last trading in BSE at Rs.215 as compared to the previous close of Rs. 226.25. The total number of shares traded during the day was 21411 in over 989 trades.

The stock hit an intraday high of Rs. 223.75 and an intraday low of 211.05. The net turnover during the day was Rs. 4606951.―Equity Bulls

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