Crompton Greaves drops as one time item boosts Q3 profit

Crompton Greaves dropped 6.3% to Rs 167.35 at 14:25 IST on BSE after consolidated profit before exceptional items and tax fell 24.94% to Rs 81.73 crore in Q3 December 2014 over Q3 December 2013.

The company announced Q3 result after market hours yesterday, 3 February 2015.

Meanwhile, the BSE Sensex was up 28.85 points, or 0.1%, to 29,028.99.

On BSE, so far 9.13 lakh shares were traded in the counter, compared with an average volume of 2.46 lakh shares in the past one quarter.

The stock of large-cap company hit a high of Rs 176.80 and a low of Rs 165.20 so far during the day. The stock hit a 52-week high of Rs 231 on 10 September 2014. The stock hit a 52-week low of Rs 109.95 on 4 February 2014.

On a consolidated basis, Crompton Greaves reported 342.26% surge in net profit to Rs 274.29 crore on 2.09% fall in total income to Rs 3357.67 crore in Q3 December 2014 over Q3 December 2013.

Crompton Greaves' Q3 December 2014 net profit was boosted by an exceptional income of Rs 267.54 representing profit on sale of portion of land at Kanjurmarg, Mumbai amounting to Rs 278.15 crore and compensation to employees pursuant to Voluntary Retirement Scheme amounting to Rs 10.61 crore.

Crompton Greaves is a engineering conglomerate with an impressive and diverse portfolio of products, solutions and services ranging from high-end power and industrial equipments and solutions, to consumer products and home appliances, addressing myriad needs.

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