Crompton Greaves Consumer Electricals shares rallied on Monday after the company posted a robust result for the Quarter Ended March 2021.
The company’s net profit increased by 144% to Rs249.08cr in the quarter ended March 2021 as against Rs102.10cr during the previous quarter ended March 2020.
The sales of the company rose 48.30% to Rs1,522.05cr in the quarter ended March 2021 as against Rs1026.34cr during the previous quarter ended March 2020.
The stock is currently trading at Rs398.05, up by Rs9.25 or 2.38% from its previous closing of Rs388.80 on the BSE.
The growth remained strong across all product segments and channels. The fans business continued to grow market share while the appliances business registered industry-leading growth driven by strong performance in water heaters, air coolers and kitchen appliances, the company said.
Commenting on the Quarter results, Company’s Managing Director, Shantanu Khosla said “ECD segment continued its strong performance, registering robust growth across categories and geographies. B2C LED lighting business continued its improving growth trend. Lighting B2B activity continued to be challenged due to slow order pick up from institutional and government entities. Alternate channels viz. E-com, MOR and Rural increased their contribution to the overall business. Despite soaring commodity costs, we have maintained our profitability”.
The scrip opened at Rs394 and has touched a high and low of Rs415.75 and Rs394 respectively.