CG Power and Industrial Solutions posts consolidated net up by 56.4%

Chennai: Power and industrial equipment solutions provider CG Power and Industrial Solutions Ltd has reported a 56.4 per cent rise in its consolidated profit after tax (PAT) for the quarter ending June 30, 2023, at Rs 203.84 crore, the company said on Thursday.

The company, part of the diversified conglomerate Murugappa Group, reported consolidated PAT at Rs 129.93 crore registered in the corresponding period of last year.

For the year ending March 31, 2023, the consolidated profit after tax stood at Rs 962.97 crore.

The consolidated total income during the April-June quarter grew to Rs 1,896.15 crore, as against Rs 1,651.95 crore registered in the same period of last year.

For the year ending March 31, 2023, the consolidated total income was at Rs 7,040.30 crore.

The company, in a statement, said an exceptional item for the quarter represents net gain on the dissolution of one of the subsidiaries of the group -- CG Power Solutions UK Ltd.