Engineering firm Greaves Cotton today reported a 4 per cent decline in net profit at Rs 49.19 crore for the September quarter.
The company had posted a net profit of Rs 51.25 crore during the same period previous fiscal, Greaves Cotton Ltd said in a regulatory filing.
The company reported a revenue of Rs 452 crore for the said quarter as against Rs 489 crore (including excise duty of Rs 50 crore) for the quarter ended September 2016.
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"Despite tough market conditions, we continue our growth trajectory backed by our initiatives to expand our product portfolio, network and reach, backed by focused bottom-line efficiencies,"
Greaves Cotton MD and CEO Nagesh Basavanhalli said.
The stock was trading 0.43 per cent up at Rs 128.80
on BSE.
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