CG Power and Industrial Solutions Ltd reported a rise in consolidated net profit and revenue for the June quarter, even as operating margins came under pressure. The company also announced plans to set up new brownfield manufacturing units.
Consolidated net profit rose 16.3% year-on-year to Rs 313 crore in the quarter ended June, compared with Rs 269.2 crore in the corresponding period last year.
Revenue increased 14% to Rs 3,281 crore from Rs 2,878 crore a year earlier. The EBITDA rose 4.3% to Rs 397 crore from Rs 381 crore, while EBITDA margin contracted to 12.1% from 13.2% a year earlier.
Other income rose sharply to Rs 83.6 crore from Rs 28.3 crore, while tax expense increased to Rs 114.6 crore from Rs 96.9 crore.
CG Power Q1 Earnings Highlights (Consolidated, YoY)
- Revenue up 14% to Rs 3,281 crore versus Rs 2,878 crore
- EBITDA up 4.3% to Rs 397 crore versus Rs 381 crore
- EBITDA margin at 12.1% versus 13.2%
- Net profit up 16.3% to Rs 313 crore versus Rs 269.2 crore
- Other income at Rs 83.6 crore versus Rs 28.3 crore
- Tax expense at Rs 114.6 crore versus Rs 96.9 crore
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Separately, the company said it will set up a brownfield manufacturing unit for switchgear and its Energy and Power Distribution (EPD) segment, along with another brownfield manufacturing unit in Nashik, to support its business requirements.
CG Power Share Price
CG Power's stock fell as much as 5.19% during the day to Rs 838.80 apiece on the NSE. It was trading 3.01% lower at Rs 857.20 per share as of 2:36 p.m.
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