Winds change direction for Crompton Greaves in Q1FY17

Crompton Greaves (CGL) has declared its Q1FY17 results on Tuesday. The company’s revenue has increased by 38.56 per cent to Rs 1424 crore in Q1FY17 on a yearly basis. It has posted EBITDA of Rs 120.55 crore in Q1FY17 against EBITDA loss of Rs 13.65 crore in Q1FY16. CGL has witnessed a turn around and has posted net profit of Rs 48 crore in Q1FY17 while net loss of Rs 2.1 crore in Q1FY16.

On the segmental revenue front, CGL has earned 49.34 per cent from power systems, 35.72 per cent from industrial systems, 14.60 per cent from automation systems and 0.34 per cent from others during Q1FY17.

The share price of CGL has increased by 4.98 per cent on bourses in early trades and has closed at Rs 81.2 on an intraday basis.

CGL provides end-to-end solutions to utilities, industries and consumers for the management and application of electrical energy. The company provides services, such as retrofit and maintenance solution, measurement and diagnostics of electrical systems, field services, spare parts sale, training related services, condition monitoring and training modules for maintenance, among others.