Crompton Greaves Consumer Electricals' Q2 net rises to
Crompton Greaves Consumer Electricals today reported a 23.28 per cent increase in its net profit to Rs 70.80 crore for the second quarter ended September 30, 2017.
The company had reported a net profit of Rs 57.43 crore in the same quarter a year ago, it said in a statement.
Its total income during the quarter under review stood at Rs 963.24 crore as against Rs 904.02 crore in the corresponding quarter last fiscal.
"This was the first quarter after GST roll-out. Market environment remains challenging amidst muted housing growth and things still stabilising in the GST regime. The quarter has seen growth coming back with notable share gain in our two biggest businesses -- fans and lighting," Crompton Greaves Consumer Electricals Managing Director Shantanu Khosla said.
"Our consumption market share is up in both fans and LED lights. We have achieved this by executing our strategies well, leveraging innovation in anti dust fans to drive premium and significant reach expansion coupled with cost optimisation in LED to drive strong B2C lighting growth," he added.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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