Crompton Greaves Q2 net profit at Rs 70 cr

The company declared an interim dividend of 20% or Rs 0.40 per share

Crompton Greaves reported a net consolidated profit of Rs 69.59 crore in the second quarter of FY15, against Rs 58.41 crore in the year-ago period. Revenue was up 5.8 per cent to Rs 3,430 crore.

On a standalone basis, the company posted a profit of Rs 125.96 crore, against Rs 134.80 crore in same period the previous year.

The company declared an interim dividend of 20 per cent or Rs 0.40 per share.

The company's international business continues to lose and is working on measures to restructure the US and Canadian operations. Last year, it carried out restructuring of its businesses in Europe and shifted its transformer plant from Belgium to Hungary.

Foreign operations contribute over 45 per cent to its consolidated revenue. However, lower-than-expected order growth, high commodity prices and restructuring costs have led to losses.