Crompton Greaves reports Rs 10.41 Cr loss in Jul-Sept quarter

Crompton Greaves today reported consolidated net loss of Rs 10.41 crore in quarter ended on September 30, 2016.
The group had a net profit of Rs 10.58 crore for the quarter ended September 30, 2015.
Total income increased from Rs 1446.99 crore for the quarter ended September 30, 2015 to Rs 1545.19 crore for the quarter ended September 30, 2016, the bank said in a regulatory filing.
In a separate filing, the company informed the BSE that its deal with Pauwels Spaco Ltd-an SPV of first reserve (parties) for sale of its power business in Europe, North America and Indonesia stands terminated.

"After review of the situation the parties to sale have decided not to pursue the completion and the share purchase agreement consequently stands terminated," it said.
However the company said that it will continue to explore alternative geography/product wise options for sale of its international power business, while continuing the strategic initiatives for improving overall operational efficiency of the international power business.