Greaves Cotton Q3 net profit up 26 pc at Rs 56 cr

Engineering firm Greaves Cotton has reported a 26 per cent increase in its net profit at Rs 55.61 crore for the December quarter.
The company had posted a net profit of Rs 44.10 crore during the same period of the previous fiscal, Greaves Cotton Ltd said in a regulatory filing.
The company reported a revenue of Rs 447 crore for the quarter ended December 2017 as against Rs 404 crore (net of excise duty of Rs 46 crore) in the corresponding quarter of the previous fiscal.
"In spite of commodity inflation, we have maintained our EBITDA by plugging in cost efficiencies. We are committed to profitable growth, propelled by our strategic initiatives and backed by focused bottom-line efficiencies," Greaves Cotton MD and CEO Nagesh Basavanhalli said.

The company's stock closed 1.81 per cent down at Rs 129.90 apiece on BSE.