CG Power Q3 Results: Net profit jumps 28% to Rs 546 crore

New Delhi: CG Power and Industrial Solution on Thursday posted a 28 per cent rise in consolidated net profit at Rs 546 crore in the quarter ended December 2021, mainly on the back of higher revenues. The consolidated net profit of the company was at Rs 425 crore in the quarter ended December 2020, according to a BSE filing.

The company's total income increased to Rs 1,558.89 crore in the latest quarter under review from Rs 834.51 crore in the year-ago period.

The consolidated results include the performance of the operating subsidiaries in USA (QEI, LLC) and in Sweden, Germany and Netherlands (Drives and Automation Europe) and other non-operating and holding subsidiaries, the filing said.


Sales in the latest December quarter were at Rs 1,551 crore as against Rs 820 crore in the year-ago period and profit before tax before exceptional items stood at Rs 174 crore as against Rs 64 crore during the same period.

The company completed the long pending sale of land at Kanjurmarg during the December quarter and the entire sale proceeds of Rs 402 crore, including refund of security deposit, have been received. The proceeds were utilised to prepay long term debt of Rs 363 crore, the filing said.

The unexecuted order book at the end of December 2021 was at Rs 1,543 crore.

CG Power and Industrial Solutions Ltd is a major company of the Chennai-headquartered Murugappa Group.