CG Power Surges Ahead with Robust Profit and Strategic Expansion
CG Power and Industrial Solutions reported a 30% increase in consolidated net profit for the September quarter, primarily driven by its power systems business. The company also announced significant order intake and plans for a greenfield expansion to meet rising demand in the domestic and export markets.
- Country:
- India
CG Power and Industrial Solutions reported a substantial rise in profits for the September quarter, posting a consolidated net profit of Rs 284 crore. This marks a near 30% increase from the Rs 220 crore earned in the same period last year, as revealed in an official filing.
The significant boost in earnings was primarily attributed to the company's core power systems business, which generated revenues of Rs 1,254.49 crore, up from Rs 845.73 crore the previous year. Total income surged to Rs 2,988.89 crore, compared to Rs 2,441.79 crore in the previous fiscal year.
Looking ahead, CG Power unveiled plans for a greenfield expansion in its Switchgear sector, with an investment of Rs 748 crore aimed at meeting growing demand. The company also highlighted a 45% rise in order intake, demonstrating strong future prospects with a backlog providing multi-quarter visibility.
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