Greaves Cotton disclosed a sharp rise in standalone net profit for the quarter ended September 2015. During the quarter, the profit of the company rose 98.83% to Rs 542.60 million from Rs 272.90 million in the same quarter last year.
Revenues for the quarter declined marginally 3.75% to Rs 4,247.30 million, compared with Rs 4,412.90 million for the prior year period.
Commenting on the results, Sunil Pahilajani, MD & CEO, said, ''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% in first six months last year to 17% in first half this year.'' He also added, ''The company has showcased its modern 105HP three-cylinder, BSIV compliant, 'Leap Engine' for automotive applications at recent Society of Automotive Engineers- China Congress & Exhibition at Shanghai, China which offers attractive value proposition to our valued OEMs. The thrust on Farm Equipment sector continued with launch of indigenized Mini Power Tiller and Paddy Weeder.''
Operating margin for the quarter stood at 17.86 percent as compared to 12.74 percent for the previous year period. Operating Income for the quarter was Rs 758.70 million, compared with Rs 562.3 million in the previous year period.
Earnings per share for the quarter stood at Rs 2.22, registering 98.21% growth over previous year period.
Quarterly Results - Standalone (Rs in mn) |
As at | Sep - 15 | Sep - 14 | %Change |
Revenues | 4,247.30 | 4,412.90 | (3.75) |
Net Profit | 542.60 | 272.90 | 98.83 |
Diluted EPS | 2.22 | 1.12 | 98.21 |
Shares of the company declined Rs 3.15, or 2.2%, to trade at Rs 140.25 at the BSE (12.50 p.m., Tuesday).