CG Power and Industrial Solutions Q3 net dips 15%
The company said there was an exceptional income of about Rs 31 crore in the quarter ended on December 31, 2022, while there was no such adjustment in the same period of 2023.
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NEW DELHI: CG Power and Industrial Solutions on Tuesday reported a 15.45 per cent decline in its consolidated net profit to Rs 197 cr in the December quarter, as the company had an exceptional income in the year-ago preiod.
Its consolidated net profit (from continuing operations) was Rs 233 crore a year ago, as per a regulatory filing.
The company said there was an exceptional income of about Rs 31 crore in the quarter ended on December 31, 2022, while there was no such adjustment in the same period of 2023.
Total income rose to Rs 2006.79 crore in the third quarter from Rs 1,781.01 crore a year ago.Its consolidated results include the performance of the operating subsidiaries in Sweden, Germany and the Netherladns (drives and automation Europe), CG Adhesives Products (India) and other non-operating and holding subsidiaries, the filing said.
In a meeting held on Tuesday, the company’s board approved the payment on an interim dividend of Rs 1.30 per equity share, that is, 65 per cent on the face value of Rs 2 per share for financial year 2023-24.