Crompton Greaves Stock Up 2% On 18% Growth In Q1 Revenue
The firm reports the highest-ever standalone quarterly revenue at Rs 1,959 crore with the growth of 18 per cent year-on-year (YoY)
The stocks of Crompton Greaves Consumer Electricals rallied more than 2 per cent in the Thursday trading session after the consumer durable firm reported the earnings for the first quarter ended 30 June 2024.
The firm reported the highest-ever standalone quarterly revenue at Rs 1,959 crore with the growth of 18 per cent year-on-year (YoY).
Crompton Greaves Consumer Electricals stock traded at Rs 461 with 2.17 per cent gain in the morning session on the National Stock Exchange (NSE).
The firm’s EBITDA margin expanded, while standalone EBIT stood at Rs 203 crore registering the growth of 34 per cent YoY. EBIT margin increased by 120 bps YoY to 10.4 per cent, with higher brand spends at 4.5 per cent of revenue.
The firm’s B2B segment witnessed growth led by streetlight and industrial segments. Additionally, the firm secured several large projects such as JSR Infra, KNR NHAI, SMS India Project, MMCH Hospital, Dahod Automotive, amongst others.
Specifically, seasonal products such as fans and air coolers grew significantly during the quarter supported by brand investments and operational optimisation.
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