CG Power reports net profit of Rs 94 crore in Q2

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October 22, 2021 5:00 AM

The company had the benefit of uninterrupted working in Q2. All businesses have performed satisfactorily, improving capacity utilisation, the company said in a release.

It further said on a q-o-q basis, sales have increased by 42% and PBT by 88%, signalling a recovery in business performance.It further said on a q-o-q basis, sales have increased by 42% and PBT by 88%, signalling a recovery in business performance.

CG Power and Industrial Solutions, part of the Murugappa Group, on Thursday reported a net profit of Rs 93.67 crore for the second quarter of FY22 against a net loss of Rs 134.90 crore in the corresponding quarter last fiscal.

Sales for the quarter were at Rs 1,352 crore, highest in the last 10 quarters, and profit before tax was at Rs 137 crore, highest in the last 20 quarters.

The company had the benefit of uninterrupted working in Q2. All businesses have performed satisfactorily, improving capacity utilisation, the company said in a release.

It further said on a q-o-q basis, sales have increased by 42% and PBT by 88%, signalling a recovery in business performance.

Free cash flow generation for the quarter stood at Rs 111 crore during the quarter.

The industrial systems vertical of the company posted aggregate sales of Rs 980 crore, recording a growth of 143% y-o-y and 43% q-o-q.

The segment’s unexecuted order book at the end of September was at Rs 1,585 crore. The division operated at 85% of the installed capacity, it said.

The power systems division’s aggregate sales were at Rs 372 crore, recording a growth of 131% y-o-y and 39% q-o-q. The unexecuted order book was at Rs 1,259 crore.

The transformers and switchgear sub-segments have operated at 55% and 65% of their respective installed capacities, the release added.

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