Crompton Greaves has moved higher by nearly 4% at Rs 85.30, bouncing back over 13% from intra-day’s low, after reporting 4% year-on-year (yoy) jump in standalone net profit at Rs 125 crore for the quarter ended June 30, 2013 (Q1 FY14), on back of higher other income. The company had profit of Rs 120 crore in year ago quarter.
The company’s net sales up 9.5% yoy at Rs 1,819 crore, while other income surge 65% yoy at Rs 29.83 crore over the previous year quarter.
However, on consolidated basis, net profit for the quarter has declined by 30% to Rs 60.08 crore against Rs 85.90 crore in year ago quarter. Consolidated net sales grew 12% at Rs 3,157 crore on yoy basis, Crompton Greaves said in a statement.
Meanwhile, the company’s power segment has posted a consolidated profit before tax and finance costs at Rs 27.23 crore in Q1FY14 against loss of Rs 58.63 crore in Q4FY13.
The stock opened at Rs 81.25 and touched a low of Rs 75.40 on BSE, before the announcement of Q1 earnings. A combined 13.8 million shares have changed hands on the counter so far on BSE and NSE.
The company’s net sales up 9.5% yoy at Rs 1,819 crore, while other income surge 65% yoy at Rs 29.83 crore over the previous year quarter.
However, on consolidated basis, net profit for the quarter has declined by 30% to Rs 60.08 crore against Rs 85.90 crore in year ago quarter. Consolidated net sales grew 12% at Rs 3,157 crore on yoy basis, Crompton Greaves said in a statement.
Meanwhile, the company’s power segment has posted a consolidated profit before tax and finance costs at Rs 27.23 crore in Q1FY14 against loss of Rs 58.63 crore in Q4FY13.
The stock opened at Rs 81.25 and touched a low of Rs 75.40 on BSE, before the announcement of Q1 earnings. A combined 13.8 million shares have changed hands on the counter so far on BSE and NSE.
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