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earnings | IST

Growth rates continued to improve MoM, says Crompton Greaves

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Crompton Greaves Consumer Electrical’s growth rates continued to improve through July, August, September quarter versus year ago, Shantanu Khosla, Managing Director, said in an interview with CNBC-TV18.

Crompton Greaves Consumer Electrical’s growth rates continued to improve through July, August, September quarter versus year ago, Shantanu Khosla, Managing Director, said in an interview with CNBC-TV18.
“Overall we had strong value growth in double digits for the quarter driven largely by volume. We are seeing similar trends continue through October also,” he said, on the company’s September quarter performance.
According to him, vocal for local theme has not resulted in any incremental shift in demand for the company’s business. “We don’t think that there is anything in our categories which was particularly material, which we could identify and isolate,” he said.
“The B2C business and the B2G – the government and institutional business performed very differently. The consumer facing business grew in double digits both in volume and value,” he added.
“We never took any salary cuts at all. We did not cut any headcount. We continue to invest. We normally give increments in April, we held back the increments over the first and second quarter but now we have fully restored the increments also,” he mentioned.
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