Crompton Greaves Consumer Electricals on Friday reported a 6.13 per cent decline in consolidated net profit at Rs 151.09 crore for the quarter ended December 2020. The company had posted a net profit of Rs 160.97 crore in the October-December period a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a BSE filing. However, its revenue from operations rose 25.84 per cent to Rs 1,348.17 crore during the quarter under review as against Rs 1,071.29 crore in the corresponding period of last fiscal. Profit After Tax for Q3FY21 was at Rs 151 crore. Last year PAT included effect of income tax refund and interest thereon. Like to like PAT growth is at 53 per cent, the company said in a post-earnings statment.
Crompton Greaves Consumer Electricals Ltd Q3FY21 consolidated net profit at Rs. 151.09 crore
Posted On: 2021-01-22 05:01:42 (Time Zone: Arizona, USA)
Crompton Greaves Consumer Electricals Ltd has reported financial results for the period ended December 31, 2020.
Financial Results (Q3 FY20-21) - QoQ Comparison
The company has reported total income of Rs.1368.06 crores during the period ended December 31, 2020 as compared to Rs.1229.87 crores during the period ended September 30, 2020.
The company has posted net profit / (loss) of Rs.151.09 crores for the period ended December 31, 2020 as against net profit / (loss) of Rs.141.68 crores for the period ended September 30, 2020.
The company has reported EPS of Rs.2.39 for the period ended December 31, 2020 as compared to Rs.2.24 for the period ended September 30, 2020.
Pandemic, early winter fuels online sale of appliances
Unlike previous years, where consumers would visit stores to make purchases, there has been a significant shift towards online purchases on account of coronavirus pandemic
Nidhi Singal | December 30, 2020 | Updated 00:07 IST
Pandemic COVID-19 along with the early onset of winters across the country has derived demand for winter appliances such as geysers, water heaters, immersion rods, and room heaters. Unlike previous years, where consumers would visit stores to make purchases, there has been a significant shift towards online purchases.
Hari G Kumar, Vice-President - Large Appliances at Flipkart, says, We are witnessing over 50 per cent increase in searches for winter appliances in the first 20 days of December 2020 over the same period last year with room heaters accounting for over a third of this demand. Interestingly, over 50 per cent of this demand came from Tier-III and beyond cities while cities such as New Delhi,