Crompton Greaves Ltd consolidated net profit at Rs4.6cr in Q1FY19 vs net loss of Rs42.4cr in Q1FY18: Misses Estimates
The company’s consolidated revenue stood at Rs1,490.1cr, up 11.3% yoy
Aug 10, 2018 09:08 IST India Infoline Research Team
Crompton Greaves Ltd Q1FY19
Consolidated Results Q1FY19: (in Rs cr)
Q1FY19 | YoY (%) | |
---|---|---|
Revenue | 1,490.1 | 11.3 |
EBITDA | 119.2 | 142.3 |
EBITDA Margin (%) | 8 | 433 |
Net Profit (adjusted) | 4.6 | - |
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• Sales growth was led by Industrial Systems, which grew 14% yoy to Rs718.2cr, while EBIT margin improved yoy from 2.6% in Q1FY18 to 8.7% in Q1FY19.
• Power Systems segment sales have declined 4% yoy to Rs768.5cr. However, there was a sharp yoy improvement in EBIT margin from 5.3% to 8.8% in Q1FY19.
• Losses from discontinued operations were at Rs90.2cr, primarily for additional one quarter of operating losses in the Hungary business with delay in effective handover date from April-July 2018 apart from likely impact from systems business where financial closure is underway. Its Belgium operations has been EBITDA positive for past few quarters, while the Ireland operations are also expected to be breakeven at PBT level in FY19.
Technical View:
CG Power & Industrial Solutions Ltd ended at Rs60.10, down 1 point, or 1.64%, from its previous close of Rs61.10 on the BSE. The scrip opened at Rs61.25 and touched a high and low of Rs62.20 and Rs59, respectively. A total of 63,53,487 (NSE+BSE) shares were traded on the counter. The stock traded below its 200 DMA.