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.