Greaves Cotton net profit down 4 pc at Rs 49 crore
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.
"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 128.80on BSE.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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