The Board of Directors, approved the results of the company for the quarter ended 31st December 2020, at its meeting held on 22nd January 2021. Total Income for the quarter was Rs. 1,348 Crs, a growth of 26% year on year (y-o-y). Electrical Consumer Durables segment grew by ~32%, driven by strong performance in Fans, Pumps and Appliances. Lighting business grew by 10% and, EBIT margins continued to improve. Profit After Tax for Q3FY21 was at Rs 151 Crs. Last year PAT included the effect of income tax refund and interest thereon. Like to like, PAT growth is at 53%.
Shantanu Khosla, Managing Director, Crompton Greaves Consumer Electricals Limited said: “ECD segment continues its strong performance and, the business grew across categories and geographies. B2C LED lighting business continues to register improved volume growth with corresponding value growth. Lighting B2B activity remained challenging due to slow order pick up from institutional clients. Our strategic investments in sales channels, consumer-centric product innovation and technology enablement have aided the strong performance. E-com and Rural channels reported an increased share in the overall business. Cost reduction program delivered strong results driving the bottom line faster than topline.”
