CG Power announces two new low voltage induction motors

28 Oct 2024 , 02:00 PM

On Monday, October 28, CG Power and Industrial Solutions Ltd announced the debut of two electric low voltage induction motors.

In an exchange filing, the business announced the debut of two process performance motors, ‘AXELERA 3.0’ and ‘AXELERA 4.0’, with the latter having a capacity of up to 7.5 Kw. The firm stated that the premiere highlights its commitment to strengthen its clients, reduce their carbon impact, and increase operational supremacy.

On October 21, the firm reported financial results for the second quarter of FY25 and the six-month period ending September 30, 2024. In the second quarter, CG Power’s consolidated revenue from operations increased by more than 20% to ₹2,412.69 Crore from ₹2,001.51 Crore the previous year. The company’s revenue from operations climbed by over 8% from ₹2,227.52 Crore in Q1 of the current year.

In the first six months of the current fiscal year, the company’s revenue from operations increased by nearly 17% to ₹4,640.21 Crore, up from ₹3,875.51 Crore the previous year.

In the September quarter, CG Power and Industrial Solutions’ consolidated profit after tax (PAT) decreased by nearly 9% to ₹219.63 Crore, down from ₹242.29 Crore the previous year. 

In the September quarter, the company’s profit after tax (PAT) decreased by roughly 9% from the previous quarter’s ₹241.24 Crore. In the first half of this fiscal, the company’s net profit grew more than 3% to ₹460.87 Crore from ₹446.13 Crore in the same time previous year.

Over the last year, CG Power and Industrial Solutions Ltd shares have increased by more than 97%. The stock has returned more than 63% this year, is up 33% in the last six months, and has gained 4% in the last month.

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