EBITDA declined by one-tenth, while margin contracted by nearly 400 basis points.
Buy / Sell CG Consumer share
Recommended ArticlesView All
China COVID protest: Xi Jinping can't blame the protesters — the world will be watching
IST9 Min(s) Read
Here’s why 2022 has been a very different year for two of India’s biggest AC makers
IST5 Min(s) Read
Shares of Lighting and consumer electrical products major Crompton Greaves Consumer Electricals declined on Thursday after it reported an 18 percent drop in its September quarter net profit.
The management attributed the quarterly weakness to a high base from last year due to post-Covid pre-buying.
Earlier this year, Crompton announced the acquisition of Butterfly Gandhimathi Appliances. It had acquired a 55 percent stake from the promoter group of the company and launched the mandatory open offer to acquire another 26 percent stake. The total consideration for the acquisition came up to Rs 2,076.6 crore.
Butterfly's offline business for the period under review grew in double digits, aiding gross margin improvement.
Shares of Crompton Consumer ended 2.9 percent lower at Rs 367.20.