Crompton Greaves shares fall 3 pct

Shares in Indian power equipment maker Crompton Greaves Ltd fell more than 3 per cent on Wednesday,a day after the company said its consolidated quarterly profit slumped 67 per cent.

Angel Broking said EBITDA earnings before interest,tax,depreciation and amortisation margins contracted steeply by 820 basis points from a year earlier to 6.0 per cent,primarily driven by high raw material costs.

At 10:13 a.m,Crompton shares were down 3.1 per cent at 129.25 rupees in a Mumbai market down 0.4 per cent.