Crompton Greaves Q1 net profit inches-up 0.33 percent

Mumbai, July 24 (IANS) Power transmission and distribution systems manufacturer Crompton Greaves on Friday reported a marginal increase of 0.33 percent in its net profit for the first quarter of the current fiscal.

According to the company, its net profit in the quarter under review stood at Rs.126.35 crore from Rs.125.93 crore in the corresponding period of 2014-15.

The Avantha Group company’s total income in the first quarter declined by 2.46 percent at Rs.1,870.49 crore from Rs.1,917.81 crore for the quarter ended June 30, 2014.

The company further reported that its consolidated net profit plunged by 75 percent at Rs.16.01 crore for the quarter ended June 30, 2015 from Rs.64.02 crore for the corresponding period of 2014-15.

The consolidated total income of the company declined by 7.52 percent at Rs.3,211.36 crore from Rs.3,472.58 crore for the quarter ended June 30, 2014.

The company’s scrip at the Bombay Stock Exchange (BSE) fell by 4.93 percent at Rs.182.30 from its previous closing of Rs.191.72 per equity share.

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