Crompton Greaves net profit in quarter falls 30 pct to Rs 60 cr

The company received orders worth Rs 2,441 crores in the first quarter of the current fiscal.

Written by PTI | New Delhi | Published:August 7, 2013 2:55 pm

Power equipment maker Crompton Greaves Ltd today reported 30 per cent fall in its net profit to Rs 60 crore for the first quarter ended June 30,2013.

Crompton Greaves has posted a PAT (profit after tax) of Rs 86 crore in the corresponding quarter of the previous financial year,the company said in a filing to the stock exchange.

Related: Crompton Greaves shares up 9% as board approves share buyback

Total income of the company during the period under review stood at Rs 3,192.5 crore,compared to Rs 2830.3 crore for the same quarter a year ago.

“First quarter of the current fiscal has been an encouraging quarter for CG,despite a challenging market environment. The performance of all our businesses in India has shown significant improvement,” CEO and Managing Director Laurent Demortier said.

Related: Maintain ‘hold’ on Crompton,target Rs 102

The company received orders worth Rs 2,441 crores in the first quarter of the current fiscal.

Crompton Greaves shares were trading at Rs 85.50,up 1.24 per cent from the previous close on BSE.

Related: Goldman reiterates ‘buy’ on India’s Crompton Greaves stock

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