Crompton Greaves Consumer Electricals Ltd (CGCEL) came out with its Q3 earnings. The company reported a 7.84 percent decline in its consolidated net profit to Rs 148.26 crore for the third quarter ended December 2021, on account of inflationary pressures on input materials, as compared to a net profit of Rs 151.09 crore in the corresponding quarter last year. Its revenue from operations during the October-December 2021 rose 4.63 percent to Rs 1,410.59 crore, compared with Rs 1,348.17 crore in the year-ago period.

In an interview with CNBC-TV18, Shantanu Khosla, MD of the company, shed light on its quarterly performance and outlook.

Khosla affirmed that demand remains strong across segments for the company. He explained that the company has witnessed a compounded annual growth rate (CAGR) of 15 percent in topline for the last two years.

He said, “Demand has begun to pick up nicely across most segments. However, Omicron did hit us with speed and intensity. So during that specific wave, we saw demand beginning to soften; demand got impacted from about the end of December and through January. However, if we look at past experiences that we have had, the recovery in terms of demand has tended to be quick and sharp and it is looking positive in the future.”

On yesterday's Budget announcements, he remains positive. He believes there’s a need for the government to quickly implement the infra projects now.

Also Read: Union Budget appreciated by all quarters, says PM Modi; focus on providing basic amenities to poor, middle class

Khosla said, “There's a need for efficient and quick execution of infrastructure projects because the quicker the government can get going, the quicker it will lead to more employment, the quicker it will lead to more hands; so more money in the hands of the average consumer. Obviously, there was nothing immediate but consistently executing these infrastructure projects with excellence will make a big difference.”

Watch the video for the full interview.

(With PTI inputs)

First Published:Feb 2, 2022 3:00 PM IST