CG Q1FY15 consolidated net profit up 7% at Rs 64 crore. Revenue up 8% to Rs 3,442 crore
Highlights for Q1FY15 Vs Q1FY14
- Order intake stood at Rs. 2,899 crore up 12.5%
- Consolidated revenue for the quarter up 8 % to Rs. 3,442 crore
- Net profit rose by 7% to Rs. 64 crore
- Earnings per share (EPS) at Rs. 1.02 as against Rs 0.94
Mumbai, August 5, 2014: Avantha Group Company CG reported Consolidated Revenue of Rs. 3,442 crore for the quarter ended June 30th 2014 up 7.7 % as against Rs 3,195 crore on June 30th, 2013. The net profit for the period stood at Rs 64 crore up 6.6% as against Rs 60 crore in Q1FY14.
CG bagged orders worth Rs. 2,899 crore in Q1FY15 and the UEOB (Un-executed order backlog) stood at Rs. 9,585 crore.
Commenting on the results, Avantha Goup Company CG`s CEO and Managing Director Laurent Demortier said, "The first quarter results have been in line with our expectations. CG`s Q1 FY15 performance is driven by turnaround of operations in Europe and Canada as planned and growth in automation and system activities. We are confident of our future performance with growing demand in the Indian electrical transportation and infrastructure sector."
"We will continue to focus on operational efficiencies and strengthen our core competency to provide better value to our customers". Mr. Demortier added.
- CG`s Power business segment recorded revenue of Rs. 2,019 crore up 10.4 % bagging orders worth Rs. 2,383 crore in Q1FY15. The turnaround operations of Hungary and Canada units yielded an improvement in EBIT registering an increase of 32.2 % over Q1FY14
- Europe, Middle East and Africa have registered 95% growth with orders worth Rs. 1455 crore in Q1FY15 driven by smart grid and system orders.
- CG bagged a few marquee orders like the offshore wind project Gemini in Netherlands worth Rs. 402 crore and the Smart Grid order from Iberdrola Spain worth approximately Rs 250 crore
- Export orders from India stood at Rs. 327 crore, up 30% as compared to Q1FY14. This is in line with our strategy of making India as CG`s manufacturing hub
- Consumer business revenue stood at Rs. 861 crore registering a growth of 7% supported by fans division, which grew by 11% and lighting which grew by 9% in Q1FY15. A robust EBIT growth of 15.7% has put the consumer segment on a strong footing.
Avantha Group Company CG is a global pioneering leader in the management and application of electrical energy. With more than 15,000 employees across its operations in around 85 countries, CG provides electrical products, systems and services for utilities, power generation, industries, and consumers. The company is organized into four business groups: Power, Industrial, Automation, and Consumer. CG clocks US$ 2.3 billion in revenues from product lines that cover the entire value chain of engineering offerings.
For more information on CG, please visit: www.cgglobal.com
The Rs. 25,000 crores (US$4bn) Avantha Group is one of India`s leading business conglomerates. Its successful entities in diversified sectors include Crompton Greaves (power transmission and distribution equipment and services), BILT (paper and pulp), The Global Green Company Limited (food processing), Biltech Building Elements Limited (infrastructure), Avantha Power (energy), Salient Business Solutions Limited (IT and ITES), Jg Glass (glass container).
With a global footprint, the Group operates in 90 countries with more than 25,000 employees worldwide. Led by GautamThapar, Avantha demonstrates strong leadership globally and emerges as a focused corporate, leveraging its knowledge, leadership and operations, adding lasting value for its stakeholders and investors.
For more information on Avantha, please visit: www.avanthagroup.com
For further information, please contact:
Ms. Paula Sengupta
Global Head - Communications
CG (Crompton Greaves Limited)
CG House, 10th floor
Worli, Mumbai 400 030, India
Mrs. Shravani Dang
Group Head - Corporate Communications
Avantha Group 1st Floor, Thapar House,
24, Janpath Lane, New Delhi 110 001
T : +91 22 24237516 / 67558771
Tel (D): +91 11 41699282
Tel (B): +91 11 23368332