Electrical appliances maker Crompton Greaves today reported 66.84% decline in consolidated net profit for the quarter ended December 31, at Rs 77.14 crore due to high expenditure.
The company had posted a net profit of Rs 232.80 crore in the corresponding period last financial year, Crompton Greaves said in a filing to the Bombay Stock Exchange (BSE).
The net sales during the third quarter, however, increased 26.32% to Rs 3,027.95 crore from Rs 2,396.99 crore in the year-ago period, it added.
The company's overall expenditure during the three-month period went up by 38.25% to Rs 2,908 crore from Rs 2,103.51 crore in the same period previous year.
The company's board also declared an interim dividend of 10%, which is Re 0.20 per share of a face value of Rs 2 each.
The shares of the company today closed 0.08% down at Rs 133.20 apiece on the BSE.
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