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Crompton Greaves Consumer Electricals Q2 net profit up 12% YoY at ₹158.8 crore

Crompton competes with brands like Bajaj Electricals and Havells India in the home appliances segment.

1 min read . Updated: 23 Oct 2021, 10:21 AM IST Livemint

It flagged rising commodity costs which were offset by cost saving initiatives and calibrated price increases. EBITDA for the quarter was at ₹215 crore.

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NEW DELHI: Consumer products company, Crompton Greaves, that manufactures fans, lights, pumps and home appliances, reported a consolidated revenue of ₹1,385 crore for the September ended quarter, up from ₹1,213.19 crore in the year-ago period. Consolidated net profit rose to ₹158.81 crore during the period under review from ₹141.68 crore a year ago

Ebitda margin stood at 15.5%. The company said business activity improved sequentially, as central and state governments had eased pandemic-induced curbs by June.

It, however, flagged rising commodity costs which were offset by cost saving initiatives and calibrated price increases. EBITDA for the quarter was at ₹215 crore.

Sales in the fans category grew, primarily the premium and decorative segment, while the appliance business also showed improvement, especially geysers, mixer grinders, and irons.

The lighting business recorded a double digit Ebitda margin driven by B2C growth of 19%. Shantanu Khosla, managing director, said the company's consumer focused LED lighting business maintained an upward growth trajectory.

Crompton competes with brands like Bajaj Electricals and Havells India in the home appliances segment.

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