In the first paper of this series, we presented a detailed high-resolution spectroscopic study of CPD - 41 degrees 7742, deriving for the first time an orbital solution for both components of the system. In this second paper, we focus on the analysis of the optical light curve and on recent XMM-Newton X-ray observations. In the optical, the system presents two eclipses, yielding an inclination i similar to 77 degrees. Combining the constraints from the photometry with the results of our previous work, we derive the absolute parameters of the system. We confirm that the two components of CPD- 41 degrees 7742 are main sequence stars (O9 V+ B1 - 1.5 V) with masses (M-1 similar to 18 M-. and M-2 similar to 10 M-.) and respective radii (R-1 similar to 7.5 R-. and R-2 similar to 5.4 R-.) close to the typical values expected for such stars.