Crompton Greaves shares jump 15% after Q2 earnings

Shares of Crompton Greaves Consumer Electricals Ltd surged nearly 15 per cent on Friday after the company reported a 27.77 per cent increase in consolidated net profit for the quarter ended September 2020. The stock jumped 14.66 per cent to Rs 328.45 -- its 52-week high -- on the BSE.

At the NSE, it gained 14.79 per cent to its one year high of Rs 329.

Crompton Greaves Consumer Electricals Ltd on Thursday reported a 27.77 per cent increase in consolidated net profit at Rs 141.68 crore for the quarter ended September 2020.

The company had posted a net profit of Rs 110.88 crore for the July-September period a year ago, Crompton Greaves Consumer Electricals Ltd (CGCEL) said in a BSE filing.

Revenue from operations climbed 12.77 per cent to Rs 1,213.19 crore during the quarter under review, as against Rs 1,075.79 crore in the same period previous fiscal.

Total expenses were at Rs 1,040.73 crore as against Rs 961.60 crore earlier, up 8.22 per cent.