Crompton Greaves Consumer Electricals’ net profit up 23% in Q2

Mumbai, Oct 26 (IANS) Crompton Greaves Consumer Electricals on Thursday reported a 23.3 per cent increase in its net profit to Rs 70.8 crore in the quarter ended September 30, 2017 as compared to Rs 57.43 crore in the corresponding period last year.

Total income for the quarter was at Rs 959.7 crore, a growth of 6.6 per cent year on year and comparable revenue after adjusting for the impact of excise grew by 15.9 per cent.

This growth has largely been driven by underlying volume growth, the company said.

Commenting on the results, Managing Director Shantanu Khosla said: "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 viz fans and lighting."

He also said the company's consumption market share was 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 story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)