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Home › Business ›Net Sales up by 12.7% to Rs. 3,352 crore: CG announces Q3 FY2013-14 results

Net Sales up by 12.7% to Rs. 3,352 crore: CG announces Q3 FY2013-14 results

Reported a Net profit of Rs 62 crore as against a Net loss of Rs 189 crore

February 03, 2014. By Moulin

Avantha Group Company CG announced its financial results for the third quarter ended December 31, 2013.

Consolidated Performance Highlights for Q3 FY14 v/s Q3FY13:

Net Sales up by 12.7% to Rs. 3,352 crore as against Rs 2,972 crore
EBITDA without other income at Rs 167 crore as against Rs 2 crore
Net profit stood at Rs 62 crore as against a Net loss of Rs 189 crore

The Consolidated Net Sales rose by 12.7% to Rs. 3,352 crore as against Rs. 2,972 crore in the same period of last year. Net Profit for the quarter stood at Rs.62 crore as against a Net Loss of Rs 189 crore in Q3FY13.

During the quarter, CG consolidated received orders worth Rs. 2,624 crore, this was up by 16% against Q3 last year. The order backlog as on December 31, 2013 stands at Rs. 10,074 crore.

The orders from Non-Indian operations rose by 47% during the quarter compared to the same period of last year. Driven by the smart grid business, the automation division witnessed a growth of 60% during the quarter as compared to the same period of the last fiscal.

In the first nine-months of the fiscal FY13-14, Consolidated Net Profit was at Rs 180 crore as compared to consolidated Net Loss of Rs 61.41 crore in the nine-months to December 31st 2012. Net Sales during the period was up by 11.5% to Rs 9,714 crore as against Rs 8,707 crore in the same period of FY12-13.

CEO and Managing Director, Laurent Demortier of Avantha Group Company CG said “The third quarter performance was in line with our expectations. Despite a difficult market environment, we have been able to secure high quality orders across all regions. Operating margins have been steadily improving on account of cost-cutting measures and benefits of exports from India.”

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