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by IANS |
Mumbai, Nov 6 (IANS) Crompton Greaves Consumer Electricals Limited on Thursday reported a 41 per cent year-on-year (YoY) decline in its consolidated net profit for the July-September period (Q2 FY26) at Rs 75.42 crore.
The electrical goods manufacturer had posted a profit of Rs 128.07 crore in the corresponding quarter a year ago (Q2 FY25).
The company's total revenue for the quarter under review stood at Rs 1,928.96 crore, up 15.4 crore YoY from Rs 1,913.53 crore. Sequentially, the total revenue dropped over 93 crore or 4.6 per cent from Rs 2,022.05 crore, and net profit fell 39 per cent from Rs 123.90 crore in the previous quarter (Q1 FY26).
Meanwhile, the Mumbai-based firm's total expenses for Q2 FY26 declined significantly to Rs 26.78 crore from Rs 42.67 crore in Q2 FY25 and Rs 42.19 crore in Q1 FY26.
Electrical consumer durables contributed the most (Rs 1,371.16 crore) to its total revenue this quarter, followed by butterfly products (Rs 283.35 crore) and lighting products (Rs 261.06 crore).
“Despite a challenging environment, our well-diversified product portfolio remained resilient with strong momentum in pumps, small domestic and kitchen appliances. We believe GST 2.0 will act as a structural catalyst to consumption, with benefits percolating to the durables segment in a phased manner,” said Promeet Ghosh, MD and CEO of the company.
“During the current quarter, the solar rooftop business secured its 1st ever order of Rs. 52 crore, followed by the largest-ever order of Rs. 445 crore, cumulating to a total of Rs. 500 crore and 50,000 units, he added.
These orders are expected to provide a significant fillip to our direct-to-consumer business and mark the beginning of a new growth engine, backed by the company’s proven excellence in execution and a robust supply chain network, Ghosh said further.
The shares of the company closed lower on Thursday following subdued Q2 earnings. The stock closed at Rs 277.55, down 2.01 per cent on NSE.
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