14 Dec 2019 | 3:57 AM


CG Power and Indust Q2 net profit down 96.87% at Rs 0.89 cr
  CG Power and Industrial Solutions Ltd. | 13 Dec 2019 | 04:01 PM
Published on 11-18-2019
The company reported standalone net profit of Rs 0.89 crore for the quarter ended September 30 2019 as compared to Rs 28.40 crore in the same period last year registering a year-on-year decline of 96.87 per cent.

Net revenue of the company declined substantially by 31.03 per cent at Rs 957.36 crore in July-September quarter of this fiscal as against Rs 1388.12 crore in the corresponding period last year.

During July-September quarter operating expenses dropped by 29.62 per cent to Rs 887.31 crore from Rs 1260.82 crore in year ago period.

Other Income dipped by 48.56 per cent at Rs 19.76 crore versus (Sep`18 Rs 38.41 crore).

Operating Profit slipped by 44.97 per cent to Rs 70.05 crore as against Rs 127.30 crore in the year ago period while Operating Profit Margin (OPM) contracted year-on-year to 20.17 per cent in September quarter.

Interest grew by 21.53 per cent y-o-y to Rs 71.00 crore while Taxation decreased by 143.81 per cent at Rs -7.93 crore (Sep`18 Rs 18.10 crore).