CG Power Q3 Results: Profit Falls 68% But Meets Estimates
It is key to note that Q3 FY24 saw an inflated bottom line due to a Rs 551-crore profit from discontinued operations being added to consolidated net profits.
CG Power & Industrial Solutions Ltd.'s consolidated net profit fell in the third quarter of the current financial year but met analysts' estimates.
The company's bottom line stood at Rs 240.5 crore in the quarter ended December, compared to Rs 747.5 crore clocked in the year-ago period, according to an exchange filing on Tuesday. Analysts tracked by Bloomberg had a consensus estimate of Rs 255 crore.
It is key to note that Q3 FY24 saw an inflated bottom line due to a Rs 551-crore profit from discontinued operations being added to consolidated net profits. If one compares CG Power's Q3 FY25 net profits to Q3 FY24 profits adjusted for the line item, the company's bottom line has increased 22%. The company's Q3 FY25 net profit was also impacted by higher tax expenses.
CG Power Q3 FY25 Highlights (Consolidated, YoY)
Revenue up 27.13% at Rs 2,515.68 crore vs Rs 1,978.75 crore (Bloomberg estimate: Rs 2,478 crore).
Ebitda up 26.08% at Rs 331.04 crore vs Rs 262.55 crore (Bloomberg estimate: Rs 340 crore).
Margin at 13.15% vs 13.26% (Bloomberg estimate: 13.7%).
Net profit down 67.82% at Rs 240.53 crore vs Rs 747.5 crore (Bloomberg estimate: Rs 255 crore).
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Segment Wise Revenue Growth
The company's power systems segment saw a 42% year on year increase in revenues to Rs 920 crore in Q3. The company's industrial systems segment rose 20% on an annual basis.
(This is a developing story).
