Mumbai: Crompton Greaves Consumer Electricals Ltd. (CGCEL), a leading consumer durable company, has announced its financial results today for the quarter ended June 2019.

The Board of Directors, at its meeting held on 24^th July 2019 approved the results of the Company for the quarter ended 30^th June 2019. Total Income for the quarter was Rs. 1,346.8 Crores, a growth of 11.9% year on year (y-o-y) largely driven by volume growth. The Electrical Consumer Durables (ECD) segment grew by ~16%, driven by strong performance in Fans, Pumps and Coolers. LED Lighting continued to see robust volume growth partly offset by price erosion. However, Conventional Lighting continued to decline.

Profit After Tax for Q1 FY20 was at Rs. 122.6 Crores, up by 17.6% (y-o-y). PAT margin increased from 8.7% in Q1 FY19 to 9.1% in Q1 FY20.

Commenting on the results, the Company’s Managing Director, Mr Shantanu Khosla said “ECD segment continued its strong growth and our ongoing efforts in driving innovation with the introduction of ‘Aura Fluidic’ fan and ‘Optimus’ desert cooler that have helped sustain this momentum. We will continue to focus on new product launches and brand development in line with our objectives. In Lighting, we launched an ‘Anti-bacterial bulb’, based on a unique and meaningful consumer proposition, which has been very well received in the market. Investments in B2B Lighting are beginning to show results with a healthy order pipeline. Our cost reduction program continues to deliver encouraging results driving bottom line faster than topline.”