The company's operational revenue rose 19.5% year-on-year to Rs 7,380 crore, while operating profit reached Rs 701 crore to widen margins to 9.5%. Appliance and air solutions drove the bulk of the expansion, and the entertainment unit rebounded sharply by 58% over the preceding quarter. Investors responded favorably to the figures, lifting the company's shares by nearly 5% on the BSE to hit an intraday peak of Rs 1,775.80. Meanwhile, LG is extending its industrial footprint with a new mobility electronics venture based out of Andhra Pradesh.
Key points
LG Electronics India shares surged nearly 5% to touch a daily high of Rs 1,775.80 on the…: LG Electronics India shares surged nearly 5% to touch a daily high of Rs 1,775.80 on the BSE.
The company is establishing a Vehicle Solutions unit at its Sri City facility in Andhra P…: The company is establishing a Vehicle Solutions unit at its Sri City facility in Andhra Pradesh to produce automotive electronics.
Future capital expenditures for the automotive and mobility division will be distributed…: Future capital expenditures for the automotive and mobility division will be distributed in phases depending on prevailing market conditions.
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The company’s revenue from operations came in at Rs 7,380 crore, up 19.5% from Rs 6,174 crore reported in the corresponding quarter of the previous financial year. Following the release, LG India shares rose nearly 5% to the day's high of Rs 1,775.80 on the BSE.
The company reported a 27.9% YoY increase in EBITDA to Rs 701 crore in Q2, compared with Rs 547 crore in the year-ago period. EBITDA margin improved to 9.5% from 8.9% a year earlier, the company said.
LG Electronics India segment-wise revenue
The company said its home appliance and air solutions division was the biggest driver, contributing Rs 4,772 crore from the total revenue from operations. The figure is up 21% from Rs 3,948 in the same period last year. Sequentially, the figure is down from Rs 5,577 crore in the June quarter, the company’s regulatory filing showed.
The home entertainment division reported revenue of Rs 2,608 crore, up 17% from Rs 2,226 crore in the second quarter of the previous financial year. Sequentially, it reported a…
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