Crompton Greaves Q3 operating profits up 48.3% yoy at Rs193cr


Crompton Greaves reported 25.85% growth yoy in Dec-20 quarter consolidated revenues at Rs1,348.17cr. The company saw growth across both product lines with the electrical consumer products growing by 28% yoy and the lighting products growing 10%.


For the Dec-20 quarter, the consolidated operating profits were up 48.3% at Rs193.17cr. This spike in the operating profits was driven by higher top line combined with sharply improved inventory management in the Dec-20 quarter. As a result, the operating margin or OPM improved from 12.16% in the Dec-19 quarter to 14.33% in Dec-20 quarter.


Consolidated Profit after tax (PAT) for the Dec-20 quarter was down -6.14% at Rs151.09cr. However, the PAT numbers may not be strictly comparable because the huge differential tax in the current quarter came because Crompton wrote-off Rs57cr pertaining to prior year assessments due to an unfavourable order received. PAT margins contracted from 15.03% in Dec-19 to 11.21% in Dec-20.


Financial highlights for Dec-20 compared yoy and sequentially











Crompton Greaves

Rs in Crore

Dec-20

Dec-19

YOY

Sep-20

QOQ

Total Income (Rs cr)

₹ 1,348.17

₹ 1,071.29

25.85%

₹ 1,213.19

11.13%

Operating Profit (Rs cr)

₹ 193.17

₹ 130.26

48.30%

₹ 183.59

5.22%

Net Profit (Rs cr)

₹ 151.09

₹ 160.97

-6.14%

₹ 141.68

6.64%

Diluted EPS (Rs)

₹ 2.39

₹ 2.55

₹ 2.24

OPM

14.33%

12.16%

15.13%

Net Margins

11.21%

15.03%

11.68%

 

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( With inputs from indiainfoline)

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