CG Power Q1 profit up, misses estimates as margins shrink; semiconductor losses widen

The Murugappa Group company reported a mixed set of June quarter earnings, with revenue, profit and operating performance missing Street estimates despite posting double-digit year-on-year growth. The company also announced a brownfield expansion of its Extra High Voltage (EHV) Gas Insulated Switchgear (GIS) manufacturing facility in Nashik to meet rising demand.

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