Crompton Greaves net profit grows to Rs 63 cr

Crompton Greaves profit rose 2.5 times to Rs 63.82 crore in fourth quarter FY 14 as against Rs 25.27 core profit in same period last year due to improvement in power systems business and rise in other income.

However company's international operations continue to lose money. On a stand alone basis Crompton Greaves reported a net profit of Rs 126 crore up from Rs 107 crore in same period last year.

Power systems business reported 17.3 percent growth in revenue and made a profit of Rs 112 crore as against a loss of Rs 58 crore in Q4 of FY 2013. Other income too jumped from Rs 5 crore to Rs 84 crore.

The company's business is divided into three main segments - the power business contributes 60% to revenues followed by consumer products with 20% and industrial systems, 15%. Crompton Greaves management is expecting a turnaround with a perhaps break-even at operating level in the first quarter of 2014-15 itself.