Crompton Greaves Consumer Electricals Q1 profit falls 19 pc to Rs 124 cr
The company had posted a consolidated profit after tax (PAT) of Rs 152 crore in the corresponding period last fiscal, Crompton Greaves Consumer Electricals Ltd said in a statement.
Consolidated revenue in the first quarter stood at Rs 1,998 crore as against Rs 2,138 crore in the year-ago period, down 7 per cent, it added.
Commenting on the performance, Crompton Greaves Consumer Electricals MD & CEO Promeet Ghosh said, "We navigated a challenging quarter due to unseasonal weather, impacting cooling products, offset by strong growth in solar pumps and small domestic appliances."
The lighting business revenue remained stable amidst ongoing price erosion.
Kitchen portfolio performed well with robust growth in small domestic appliances and Butterfly introduced a new brand identity with "industry-first range of products under the Idea First Series", he added.
On the way forward, Ghosh said, "We remain focused on strengthening our brand, distribution, innovation, manufacturing, and people capabilities to drive future growth and capitalise on emerging opportunities."
Stating that climate change is altering demand patterns and is driving changes in consumer behaviour, Ghosh said, "We see sustainability not just as a responsibility, but also as a driver of smarter choices, sharper innovation, product differentiation and consumer affinity."
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