CG Power Q1 results: Co posts net profit at Rs 48 cr

New Delhi:

CG Power and Industrial Solutions

on Monday posted a consolidated net profit of Rs 48 crore for June quarter 2021-22 mainly on the back of higher revenues. The company had reported a net loss of Rs 262.88 crore for the year-ago period, it said in a BSE filing.

Total income rose to Rs 1,062.24 crore in the quarter from Rs 434.84 crore in the same period a year ago.

There was no material impact on the Group due to COVID-19, it said.

However, it said that during the quarter, operations at its plants were impacted due to lockdown and movement restrictions imposed in the wake of COVID second wave.

Capacity utilisation, production and dispatches were lower than the normal level.

The company has facilitated vaccination of the employees and workmen at its offices/plants and approximately 89 per cent of the total manpower has been vaccinated, it added.

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