CGCEL Q3 net profit jumps 39% to Rs 57.36 crore

Crompton Greaves Consumer Electricals Ltd (CGCEL) today reported 39.29 per cent increase in its standalone net profit to Rs 57.36 crore for the third quarter ended December 31, 2016.
The company had reported a net profit of Rs 41.18 crore in the October-December quarter a year-ago, CGCEL said in a BSE filing.
Its total income on standalone basis was up 9.73 per cent at Rs 888.92 crore in the quarter under review as against Rs 810.05 crore in the same period last fiscal.
Commenting on the results, CGCEL MD Shantanu Khosla said: "Both Electrical Consumer Durables and Lighting segments maintained growth momentum despite the challenging operating environment... Our margin expansion projects and continued focus on premiumisation have helped us expand our margin even during these testing times."

Total expenses was up 8.49 per cent at Rs 792.25 crore as against Rs 730.23 crore last fiscal.
CGCEL's revenue from lighting product during Q3 of FY 2016-17 was up 4.67 per cent to Rs 284.40 crore as against Rs 271.71 crore, while electric consumer durables was up 12.29 per cent to Rs 604.52 crore compared to Rs 538.34 crore.
Shares of CGCEL today settled at Rs 171.70 per scrip on BSE, up 3.37 per cent from the previous close.