LG Electronics profit slips 27% as higher costs bite

Firm cautiously optimistic about third quarter

- VIVEAT SUSAN PINTO

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% yo-y to ₹389 crore, while revenue grew at a sluggish pace of 1% yo-y to ₹6,174 crore, which the firm 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.