Engineering major Crompton Greaves today posted 37.11% decline in net profit for the quarter ended March 31, 2012 at Rs 136.87 crore due to increase in overall expenditure during the period.
The company's net profit during three months ended March 31, 2011 was Rs 217.64 crore, it said in a filing to the BSE.
During the quarter under review, the company's total expenditure rose 15.59% to Rs 1,761.81 crore, compared to Rs 1,524.06 crore in the fourth quarter of 2010-11.
Crompton Greaves net sales during the quarter increased by 10% to Rs 1,940.62 crore from Rs 1,765.19 crore in January-March quarter of 2010-11.
The firm's net profit for the fiscal 2011-12 also dipped 27.28% to Rs 504.86 crore, against Rs 694.33 crore in 2010-11.
Its net sales in 2011-12 increased 8.97% to Rs 6,485.38 crore, against Rs 5,951.47 crore in 2010-11, the filing said.
Crompton Greaves' scrip closed at Rs 106.05 per share, down 2.30% from the previous close on the BSE.