CG Power Q2 net profit falls 11% to Rs 179 cr; total income rises 16%
CG Power and Industrial Solutions on Wednesday reported 11 per cent decline in consolidated net profit at Rs 178.97 crore for September quarter 2022-23.
The company logged a profit of Rs 201.78 crore in the quarter ended September 30, 2021, a BSE filing stated.
However, its total income rose to Rs 1,707 crore in the quarter from Rs 1,468.56 crore in the same period a year ago.
The board in its meeting also approved a proposal to expand the manufacturing capacity of motors at its Ahmednagar and Goa plants with a capital outlay of Rs 230 crore.
The proposed expansion would increase the capacity to 19.92 lakh low tension motors per annum, from the existing capacity of 9.93 lakh per annum.
