However, its revenue from operations increased 22.7% to ₹1,699.50 crore during the quarter under review against ₹1,385.12 crore in the year-ago period.
“CGCEL had a difficult quarter owing to an unfavourable base period and high retail inflation creating weak consumer demand,” the company said in its earning statement.
Its total expenses rose 31.57% to ₹1,564.54 crore from ₹1,189.09 crore a year ago, it added.
CCGEL managing director Shantanu Khosla said: “Consolidated Q2 delivered a revenue growth of 23%, aided by the Butterfly acquisition amidst an unfavourable base period and high retail inflation”.
In the July-September quarter, CGCEL’s revenue from the electric consumer durables segment revenue slipped 3.11% to ₹1,062.23 crore compared to ₹1,096.43 crore in Q2 FY22.
