CG Power to get investment up to Rs 100 crore from Murugappa Group‘s Tube Investments
CG Power to get investment up to Rs 100 crore from Murugappa Group‘s Tube Investments
PTI

CG Power and Industrial Solutions on Friday posted a consolidated net profit of Rs 294.13 crore for March quarter 2020-21 on the back of higher revenues.

The company had reported a loss of Rs 288.06 crore in the year-ago period, a BSE filing said.

Total income rose to Rs 1,134.58 crore in the quarter from Rs 636.67 crore in the same period a year ago.

The consolidated net loss of the company narrowed to Rs 393.97 crore in 2020-21 from Rs 2,166.94 crore in the previous year.

Total income in the fiscal year stood at Rs 3,065.87 crore compared to Rs 5,158.01 crore in 2019-20.

In preparation of the financial results, assessment of the recoverable value of its assets based on the internal and external information considers impact of COVID-19 and current indicators of future economic conditions.

CG Power said there was no material impact of COVID-19 on the company.

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