At a meeting held on 22nd October’2020 the Board of Directors of Crompton Greaves Consumer Electricals approved the quarterly results, ended 30th September 2020. Total Income for the quarter was Rs. 1,213 Crs., a growth of 13% year on year (y-o-y). Electrical Consumer Durables segment grew by 18%, driven by strong performance in all segments. Lighting business continued on its recovery path on the back of strong volume growth in LED products. The actions taken to reduce costs and improve mix in lighting have helped deliver double-digit margins of 11.7%. Profit Before Tax for Q2FY21 was at Rs 189 Crs, up by 50%. PBT margin increased from 11.8% in Q2 FY20 to 15.6% in Q2FY21. The Board has declared an Interim Dividend of Rs. 3/ per share.
Shantanu Khosla, Managing Director, Crompton Greaves Consumer Electricals Limited commented: “We continue to remain focused on the health and well-being of our employees and our partners. All segments of our business have continued to recover through the quarter. Our GTM investments are resulting in increased distribution across traditional and alternate channels. Market share continues to grow behind an accelerated innovation program. Our cost reduction program continues to deliver strong results driving the bottom line faster than the top line.”
