Crompton Greaves shrugs off weak Q1 results

Crompton Greaves rose 1.65% to Rs 83.40 at 11:50 IST on BSE after consolidated net profit declined 30.05% to Rs 60.08 crore on 12.31% growth in total income from operations to Rs 3157.22 crore in Q1 June 2013 over Q1 June 2012.

The Q1 result was announced during trading hours today, 6 August 2013.

Meanwhile, the S&P BSE Sensex was down 247.58 points or 1.29% at 18,934.68.

On BSE, 19.73 lakh shares were traded in the counter as against average daily volume of 4.51 lakh shares in the past one quarter.

The stock was volatile. The stock rose as much as 2.31% at the day's high of Rs 83.95 so far during the day. The stock fell as much as 8.1% at the day's low of Rs 75.40 so far during the day. The stock had hit a 52-week low of Rs 71.70 on 25 June 2013. The stock had hit a 52-week high of Rs 141.70 on 8 October 2012.

The stock had underperformed the market over the past one month till 5 August 2013, sliding 5.91% compared with the Sensex's 1.61% fall. The scrip had also underperformed the market in past one quarter, declining 13.13% as against Sensex's 2.01% fall.

The mid-cap company has equity capital of Rs 128.30 crore. Face value per share is Rs 2.

Crompton Greaves said that Q1 June 2013 results include the results of the subsidiaries acquired during the last year i.e. ZIV Group in Spain. Consequently, figures for the quarter are not comparable with corresponding quarter last year.

Crompton Greaves is a global pioneering leader in the management and application of electrical energy. Across its operations in around 85 countries, the company provides electrical products, systems and services for utilities, power generation, industries and consumers. The company is organized into four business groups viz. power, industrial, automation and consumer.

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