CG Power and Industrial Solutions reported a substantial rise in profits for the September quarter, posting a consolidated net profit of Rs 284 crore. This marks a near 30% increase from the Rs 220 crore earned in the same period last year, as revealed in an official filing.
The significant boost in earnings was primarily attributed to the company’s core power systems business, which generated revenues of Rs 1,254.49 crore, up from Rs 845.73 crore the previous year. Total income surged to Rs 2,988.89 crore, compared to Rs 2,441.79 crore in the previous fiscal year.
Looking ahead, CG Power unveiled plans for a greenfield expansion in its Switchgear sector, with an investment of Rs 748 crore aimed at meeting growing demand. The company also highlighted a 45% rise in order intake, demonstrating strong future prospects with a backlog providing multi-quarter visibility.
