Mumbai, Jan 25, 2017/Team Estrade//– The Board of directors, at its meeting held on 24th January, 2017 approved the quarterly results of the Company for the quarter ended 31st December, 2016. Total Income for the quarter was Rs. 888.9 crs, a growth of 9.7% year on year (y-o-y). EBIT for the quarter grew by 21.1% to Rs 96.7 crs after considering a non-cash ESOP charge of Rs 8.5 crs. PAT at Rs. 57.4 Crs was up by 39.3%
The Company was able to limit the impact of demonetization by undertaking a series of actions such as special incentives for channel partners, selective extension of credit to dealers, focused pricing action, and new product launches.
Commenting on the Quarter results, Company’s Managing Director Shantanu Khosla said “Both the Electrical Consumer Durables and the Lighting segments (excluding EESL) maintained growth momentum despite the challenging operating environment. Managing the demonetization challenge required some immediate actions to support our channel partners in dealing with the disruption. Laying out competitive pricing across the broader LED portfolio and the launch of our innovative Anti-dust fan helped us in gaining visibility, recall and sales. Our margin expansion projects and continued focus on premiumisation have helped us expand our margin even during these testing times. We will continue to monitor future impact of demonetisation closely and take appropriate actions. The encouraging performance in this challenging quarter demonstrates effective execution of our strategy.”
Detailed report and financial statements at www.bseindia.com
Crompton Greaves Consumer Electricals: 39% PAT Growth in Q3 FY17
Crompton Greaves: 39% PAT Growth in Q3 FY17