Crompton Greaves Consumer Electricals' total income for the quarter came in at Rs1,075.8cr, a growth of 4% yoy. Electrical Consumer Durables segment grew by ~11%, driven by strong performance in Fans, Pumps and Geysers. Lighting continued to see top-line challenges due to price erosion, even though volume growth remained strong.

Profit After Tax for Q2FY20 was at Rs111cr, up by 44% helped by a lower tax rate. PAT margin increased from 7.4% in Q2FY19 to 10.3% in Q2FY20.

Commenting on the Quarter results, Company’s Managing Director, Shantanu Khosla said “ECD segment maintained its growth momentum on the back of innovative new product launches. We remained focused on investing in brand building and capability development. While non EESL LED volumes registered strong volume growth, the segment also witnessed price erosion. Our cost reduction program continues to deliver encouraging results driving bottom line faster than topline.”

CG Power & Industrial Solutions Ltd ended at Rs14.77 down by Rs0.15 or 1.01% from its previous closing of Rs14.92 on the BSE.

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