Consumer durables firm Crompton Greaves Consumer Electricals (CGCEL) posted an 8.6 percent year-on-year (YoY) growth in its September quarter net profit at Rs 76.91 crore.
The company’s income was up 8.7 percent YoY at Rs 1,047.66 crore in Q2. Among the segments, electric consumer durables saw a 14.6 percent YoY growth in revenue at Rs 712.82 crore. Lighting products' revenue was down 3.8 percent YoY to Rs 325.01 crore.
Shantanu Khosla, Managing Director, CGCEL, said that they have grown their core electric consumer durables business strongly and continued to grow margins in-spite of commodity cost pressures.
"Continuing price erosion and forex led input cost pressures have impacted margins adversely in lighting. Widening the scope of operational efficiency programs has helped us manage some of these headwinds," he added.
In a press statement, CGCEL said that the PAT margin remained constant at 7.4 percent despite input cost pressures and continued price erosion in LED lighting. This, it said, was achieved through sustained cost reduction efforts and by improving overall efficiency.
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