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Heavy Electrical equipment firm CG Power and Industrial Solutions announced Q3FY24 results:
- Quarterly Sales Performance: Aggregate sales for the quarter increased by 13% YoY to Rs 1,860 crores.
- Profit Before Tax (PBT): PBT before exceptional items stood at Rs 282 crores, which is equivalent to 15.1% of sales, compared to Rs 274 crores or 16.6% of sales in the same quarter of the previous year.
- Profit After Tax (PAT): PAT, excluding exceptional items, for the quarter was Rs 216 crores, marking a 13% rise compared to the previous year.
- Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA): Reported EBITDA was Rs 313 crores, experiencing a slight decline of 4% from the previous quarter.
- Nine-Month Performance: For the nine months ended December 2023, sales grew by 15% YoY to Rs 5,526 crores, while profit after tax (before exceptional items) increased by 26%.
Segment-Wise Performance
- Industrial Systems:
- Sales were Rs 1,214 crores for the quarter, a 5% increase YoY.
- Profit before interest and taxes (PBIT) was Rs 169 crores, 13.9% of sales, a decrease compared to Rs 213 crores or 18.3% of sales in Q3FY23.
- Power Systems:
- Sales reached Rs 646 crores, a substantial 34% growth YoY.
- PBIT improved significantly to Rs 99 crores which is 15.3% of sales, compared to Rs 57 crores or 11.7% of sales in the same quarter last year.
Consolidated Results
- Total Sales: Consolidated sales for the quarter saw a 13% rise to Rs 1,979 crores YoY.
- PBT: Stood at Rs 264 crores, 13.4% of sales, versus Rs 285 crores or 16.2% of sales in Q3FY23.
- Order Book: The unexecuted order book as of December 31, 2023, was Rs 5,556 crores, showing a 34% increase YoY.
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