Crompton Greaves Q1 falls 30% on power woes

FP Archives|Dec 20, 2014, 22:39:25 IST

New Delhi: Power equipment maker Crompton Greaves (CG) today reported 30 percent fall in its net profit to Rs 60 crore for the first quarter ended June 30, 2013.

The company 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.

[caption id="attachment_101689" align="alignright" width="380"] The company 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.[/caption]

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.

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