Business · India Bureau
CG Power Q2 profit surges 44% on stronger revenue growth
CG Power and Industrial Solutions reported consolidated net profit of ₹409 crore in the September quarter, a sharp 44% increase from the year-ago period. The Mumbai-based engineering firm's performance was underpinned by robust revenue expansion across both its core business segments.
LSN India ·
CG Power and Industrial Solutions posted consolidated net profit of ₹409.09 crore for the quarter ended September 30, 2024, compared with ₹284.44 crore in the corresponding quarter of the previous fiscal year, the company disclosed in an exchange filing on Friday.
Total income for the quarter surged to ₹3,883.25 crore from ₹2,988.89 crore in the year-ago period, reflecting sustained demand across the company's operations. The power systems segment generated revenue of ₹1,766.76 crore against ₹1,254.49 crore previously, while the industrial systems business contributed ₹1,868.61 crore compared with ₹1,533.33 crore in the corresponding quarter.
The company's board approved capital expenditure enhancements to strengthen its manufacturing footprint. It increased capex for the gas-insulated switchgear (GIS) brownfield project at Vilholi, Nashik, from ₹35.17 crore to ₹44.62 crore. Additionally, the board sanctioned an investment of ₹15.31 crore to expand extra-high voltage circuit breaker manufacturing capacity by 3,600 units annually at its S3 Unit-II facility, signaling confidence in sustained business momentum.