LG Electronics Q2 profit slips 27% on higher costs

Consumer electronics major LG India on Thursday reported a decline in September quarter (Q2FY26) net profit and a nearly flat growth in revenue amid GST transition issues, higher costs and deferment of purchases by consumers.

Net profit was down 27.3% y-o-y to Rs 389 crore, while revenue grew at a sluggish pace of 1% y-o-y to Rs 6,174 crore, which the company said was led by a nearly one-and-a half month of a slowdown in sales (between August-September) as consumers waited for the GST rate changes to reflect on products such as ACs, TVs and dishwashers, where tax was rationalised to 18% from 28%.