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Crompton Greaves Consumer Electricals Ltd announces results for quarter ended Dec 31, 2019

Posted On: 2020-01-29 21:51:06

The Board of Directors of Crompton Greaves Consumer Electricals Limited, at its meeting held on 29th January 2020 approved the results of the Company for the quarter ended 31st December 2019. Total Income for the quarter was Rs. 1,071.2 Crs, a growth of 4% year on year (y-o-y). Electrical Consumer Durables(ECD) segment grew by ~11%, driven by strong performance in Fans, Domestic Pumps and Appliances. Volume growth in Lighting was in double digits; however revenue declined due to price erosion.

Earnings before interest and taxes(EBIT) grew by 6%(y-o-y). EBIT Margin was higher by 30 bps at 12.2%. Profit After Tax for Q3FY20 was at Rs 161 Crs compared to Rs. 80 Crs last year.

Commenting on the Quarter results, Company's Managing Director Shantanu Khosla said "We continue to witness healthy double-digit growth momentum in ECD segment driven by new innovative launches while improved mix and cost initiatives helped us expand margins. Lighting segment continues to face top line challenges primarily due to pricing pressure and macro factors."

Shares of Crompton Greaves Consumer Electricals Ltd was last trading in BSE at Rs.255 as compared to the previous close of Rs. 258.7. The total number of shares traded during the day was 235769 in over 918 trades.

The stock hit an intraday high of Rs. 262.55 and intraday low of 255. The net turnover during the day was Rs. 61032957.


Source: Equity Bulls

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