CG Power and Industrial Solutions Q4 net more than doubles

May 08, 2023 07:26 pm | Updated 07:26 pm IST - CHENNAI

CG Power and Industrial Solutions Ltd. (CG Power) standalone net profit for the quarter ended March 31 has more than doubled over the year-earlier period to ₹240 crore on account of volume growth, softening in input costs and procurement efficiencies.

Revenue from operations increased by 27% to ₹1,788 crore, of which Power Systems accounted for ₹593 crore and Industrial Systems the balance.

Costs of material consumed soared by 22% to ₹1,131 crore, the Murugappa group firm said in a regulatory filing.

The financials included the reversal of excess provision of ₹3.12 crore towards settlement of corporate guarantee obligation including foreign exchange gains.

Free cash flow generated during the quarter was ₹263 crore. Order intake was higher by 8% at ₹2,073 crore and unexecuted order book was higher by 22% at ₹4,319 crore.  

During the year, the company redeemed non-convertible debentures of ₹200 crore. It had paid an interim dividend of ₹1.50 per share.

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