Greaves Cotton Q2 net doubles to Rs 54.24 cr

Engineering firm Greaves Cotton Limited today said its net profit doubled to Rs 54.24 crore for the quarter ended September 30 as against Rs 27.29 crore recorded in the same period last year.
The total income from operations for the quarter stood at Rs 424.73 crore as against Rs 441.29 crore in the year-ago period, a company statement said here.
The company's EBITDA for the quarter stood at Rs 75.87 crore as against Rs 56.23 crore in July-September quarter of last fiscal, up 35 per cent.
EBIDTA margin for the second quarter this year improved to 17.9 per cent from 12.8 per cent during the same period last fiscal.

"While the revenue growth is still a concern on account of weak market conditions, various operational excellence initiatives have started yielding results and has been reflected in the EBITDA Margin improvement from 12 per cent in first six months last year to 17 per cent in first half this year," Sunil Pahilajani, MD & CEO, Greaves Cotton said.
The company with a turnover of Rs 1,700 crore is one of the leading engineering companies in India with core competencies in diesel, petrol engines, farm equipment and gensets.