Crompton Greaves shares upsurge 7% on the back of a stellar second quarter performance
Shares of Crompton Greaves Consumer Electrical rose 7 per cent after the company reported a rise in its consolidated net profit and revenue for the quarter ended September.
At 1.40 pm, Crompton Greaves shares were trading 4 per cent higher at Rs 385. The stock has gained 23 per cent on a year-to-date basis, outperforming the Nifty 50, which rose 8 per cent during the same time frame.
The company reported a 27.8 per cent rise in consolidated net profit to Rs 124.9 crore, while revenue from operations rose 6.4 per cent to Rs 1,896 crore.
Segment-wise, revenue from electric consumer durables (ECD) grew to Rs 1,392.7 crore from Rs 1,238 crore. Lighting products revenue also saw a marginal increase, rising to Rs 253 crore from Rs 238.7 crore. However, revenue from butterfly products declined to Rs 250.2 crore from Rs 305.6 crore a year ago.
“In fans, we have seen sustained growth along with margin improvement through consistent price increases over several quarters,” the company said in an investor presentation.
The company achieved an EBIT margin of 9.7 per cent in Q2FY25, better than 9.1 per cent in the same period last year. Crompton Greaves took pricing actions across various categories to deal with the impact of rising commodity prices and regulatory changes.
Mumbai-headquartered Crompton Greaves specialises in electrical appliances. Its product portfolio includes lighting solutions, electrical consumer durables such as LED lights, fans and pumps, as well as home appliances such as water heaters, air coolers and kitchen gadgets.
