CG Power Q1 profit up but misses estimates

CG Power, a company under the Murugappa Group, recently reported its earnings for the first quarter (June quarter).

While the company saw double-digit growth in both revenue and profit compared to the same period last year, these figures fell short of what market analysts had predicted.

The company's operating performance also improved but still did not meet expectations.

Additionally, the company's semiconductor business continued to lose money, with losses widening in this quarter.

Despite these challenges, CG Power announced plans to expand its manufacturing facility in Nashik to meet the growing demand for high-voltage electrical equipment.