Earnings |Crompton Greaves Consumer Electricals Ltd. (NSE:CROMPTON): Q3FY23 Results Out; Total Income rise 8% YoY

Crompton Greaves Consumer Electricals Ltd. (NSE:CROMPTON) is an Indian company that manufactures and markets a wide range of consumer products including fans, lighting, pumps, and appliances. The company was established in 1937 and is headquartered in Mumbai, India. It has a strong presence in the domestic market and also exports its products to several countries.

Crompton Greaves Consumer Electricals Ltd. (CGCEL) has released its Q3FY23 results, which show a mixed performance. The consolidated revenue for the quarter stood at Rs 1,516 crore, representing a 7.5% YoY growth. The consolidated EBIDTA was at Rs 152 crore, with an EBIDTA margin of 10.1%, and the PAT stood at Rs 88 crore. However, on a standalone basis, the revenue for the quarter was at Rs 1,226 crore, a decline of 10.2% YoY. The standalone EBIDTA was at Rs 130 crore, with an EBIDTA margin of 10.3%, and the PAT stood at Rs 84 crore. Despite the decline in revenue on a standalone basis, the company has shown improvement in its consolidated revenue, EBIDTA, and PAT. The company’s focus on new product launches, distribution expansion, and cost optimization measures are expected to drive future growth.

Commenting on the quarter results, Company’s Managing Director, Shantanu Khosla said “Consolidated Q3 revenue grew by 7.5% and YTD Dec revenue growth is 32%. We continue to invest behind our long-term initiatives despite the current market slowdown as we believe it is critical for our long-term success. Our plans to grow the butterfly business are track”