The leading Indian consumer company, Crompton Greaves Consumer Electricals’s stock witnessed a 16%+ increase on Friday reaching Rs. 398.80, a 20-month high.
CG Consumer stock on a rise
The driving force behind this stock price hike is the company's March quarter result which was more than the expected numbers as well as the increased demand for air coolers and fans during FY2024.
The driving factors
The company’s standalone PAT for Q4 was Rs. 161 Cr, a 22% increase on a YOY basis while for the full year, the PAT was Rs 466 Cr.
Net profit
Its consolidated operating revenue reached Rs. 657.40 Cr, up by 8.7% for Q4 while for the full year, it increased by 10%, reaching Rs. 6388 Cr.
Revenue from operations
This has resulted in the company’s share price increasing by more than 16%. The stock traded in the range of Rs. 350.50 to Rs. 398.80 compared to the previous closing of Rs. 339.10