Latest News | CG Power Posts Rs 109 Cr Net Profit in Sept Quarter
Get latest articles and stories on Latest News at LatestLY. CG Power and Industrial Solutions posted a consolidated net profit of Rs 109.37 crore for the September 2020 quarter.
New Delhi, Oct 28 (PTI) CG Power and Industrial Solutions posted a consolidated net profit of Rs 109.37 crore for the September 2020 quarter.
The company had suffered a net loss of Rs 1,595.21 crore in the corresponding period of the previous financial year, according to a BSE filing.
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Its total income in the quarter stood at Rs 673.45 crore, compared with Rs 1,548.50 crore a year ago.
About the impact of COVID-19, it said, "The group's operations in India and overseas were impacted from March 2020 due to suspension of production across all plants and closure of offices following lockdowns."
The lockdowns affected our partners and customers, resulting in diminished sales, ordering and manufacturing activities. Subsequent to easing of lockdown and receipt of requisite approvals, the firm had commenced limited operations at all its plants from April 29, 2020, it added.
The nationwide lockdown continued until early June, when it was followed by further local restrictions.
The company has now ramped up the production, sales and allied activities, it added.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)