Crompton Greaves Results for Quarter Ended December 2016

Crompton Greaves Consumer Electricals Limited

 Results for Quarter Ended December 2016

Revenue growth of 10% PAT growth of 39%

Crompton Greaves Results for Quarter Ended December 2016

Delhi, January 25, 2017: 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.”

About Crompton:
Crompton Greaves Consumer Electricals Ltd. is India’s market leader in fans, number one player in residential pumps and has leading market positions in its other product categories. The company manufactures and markets a wide spectrum of consumer products, ranging from fans, lamps and luminaires, to pumps and household appliances such as water heaters, Kitchen appliances etc.  Crompton has a strong dealer base across the country and a wide service network that offers robust after sales service to its consumers.