Crompton Greaves hits 52-wk low as Q4 net halves

Crompton Greaves has dipped 5% to Rs 103, also its 52-week low, after reporting 60% year-on-year (y-o-y) fall in consolidated net profit at Rs 100 crore for the quarter ended March 2012, due to higher employee and raw material cost. Net sales grew 6% at Rs 3,077 crore on y-o-y basis.

EBITDA (earnings before interest, taxes, depreciation, and amortization) margins declined to 6.92% from 12.82% during the recently concluded quarter. The profit of the company’s Power systems segment has declined more than 80% in quarter under review.

As many as a combined 10.91 million shares have already changed hands on the counter so far, against an average 1.5 million shares that were traded daily in past two weeks.