Crompton Greaves is trading higher by 4% at Rs 106 after reporting a consolidated net profit at Rs 62 crore for the third quarter ended December 31, 2013 (Q3), on back of higher sales. The company had recorded loss of Rs 189 crore in the same quarter year ago.
Net sales of the company reported 12.8% year-on-year (yoy) growth at Rs 3,352 crore, mainly on account of 17.3% yoy growth in revenue from power system segment to Rs 2,132 crore.
Meanwhile, the board has declared an interim dividend of 20% i.e. Rs. 0.40 per share.
Further, the board also approved a scheme of amalgamation of CG-ZIV Power Automation Solutions Limited and CG Energy Management Ltd (wholly owned subsidiaries) with the company, Crompton Greaves said in a statement.
The stock opened at Rs 103 and touched a high of Rs 108 on the BSE. A combined 840,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
Net sales of the company reported 12.8% year-on-year (yoy) growth at Rs 3,352 crore, mainly on account of 17.3% yoy growth in revenue from power system segment to Rs 2,132 crore.
Meanwhile, the board has declared an interim dividend of 20% i.e. Rs. 0.40 per share.
Further, the board also approved a scheme of amalgamation of CG-ZIV Power Automation Solutions Limited and CG Energy Management Ltd (wholly owned subsidiaries) with the company, Crompton Greaves said in a statement.
The stock opened at Rs 103 and touched a high of Rs 108 on the BSE. A combined 840,000 shares changed hands on the counter in early morning deals on the BSE and NSE.
