CG Power loss widens to Rs 85.98 cr in April-June quarter

Press Trust of India  |  New Delhi 

CG Power and Industrial Solutions consolidated net loss widened to Rs 85.98 crore for the quarter ended June 30, 2017 compared to the year-ago period.

The company had reported Rs 10.43 crore loss in the quarter ended June 30, 2016, CG Power and Industrial Solutions said in a filing today.


The company's total consolidated decreased to Rs 1,448.22 crore in the quarter from Rs 1,538.81 crore a year ago.

It said its board at a meeting held today approved the transfer of Madhav Acharya, Executive Director- and CFO of the company to Avantha Group with effect from August 12, 2017.

Acharya shall continue as a Non-Executive Director of the company till September 30, 2017.

Consequently the board has also approved the appointment of V R Venkatesh, Chief Financial Officer of the company's international operations, as Chief Financial Officer with effect from August 12, 2017, it added.

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