Crompton Greaves Consumer Q1 net profit up 26.68% at Rs94.76cr on EBITDA traction in electrical goods business

Crompton Greaves Consumer reported 45.88% increase in total revenues for the Jun-21 quarter on consolidated basis at Rs1,050.48cr

Jul 24, 2021 01:07 IST India Infoline News Service

Crompton Greaves - BSE
Crompton Greaves Consumer reported 45.88% increase in total revenues for the Jun-21 quarter on consolidated basis at Rs1,050.48cr. On a sequential basis, revenues were down -30.98% compared to Rs1,522.05cr revenues in Mar-21 quarter due to the lag effect of COVID 2.0.

In terms of revenue performance, the electrical consumer durables vertical was up 48.2% at Rs885cr while the lighting products vertical was up 13% at Rs166cr. However, the impact of COVID 2.0 has been quite deep on sequential de-growth in revenues.

Net profit for the Jun-21 quarter was up 26.68% at Rs94.76cr on a yoy basis, but on a sequential basis, the PAT was lower by -61.96% due to COVID 2.0 impact. The cost of materials nearly tripled leading to the profit growth slowing below the growth in revenues.

The EBIT contribution is substantially from the electrical consumer goods business with very marginal contribution from lighting products. The net margins at 9.02% for Jun-21 quarter is lower than 10.39% in the Jun-20 quarter and 16.36% in the sequential Mar-21 quarter.


Financial highlights for Jun-21 compared yoy and sequentially


Crompton Greaves
Rs in Crore Jun-21 Jun-20 YOY Mar-21 QOQ
Total Income (Rs cr) ₹ 1,050.48 ₹ 720.10 45.88% ₹ 1,522.05 -30.98%
Net Profit (Rs cr) ₹ 94.76 ₹ 74.80 26.68% ₹ 249.08 -61.96%
Diluted EPS (Rs) ₹ 1.50 ₹ 1.18 ₹ 3.94
Net Margins 9.02% 10.39% 16.36%

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