/ Greaves Cotton Q2 FY17 At Rs 51 Crore ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 7 November 2016


Greaves Cotton Limited, one of India’s leading engineering companies, has, despite tough market conditions, reported revenues of Rs 489 crore for the quarter ended September 30, 2016 as against Rs 473 crore for the quarter ended September 30, 2015.

EBITDA for the quarter ended September 30, 2016 is Rs 70 crore as against Rs 76 crore for the same period last year, recording a EBITDA margin of 14.3% during the current quarter.

The Profit After Tax (PAT) for the quarter ended September 30, 2016 is Rs 51 crore as against Rs 55 crore for the corresponding period last year. During the quarter, the company had taken a few initiatives that would help it prepare for the future which resulted in higher Operating Expenses and a consequent reduction in profits. The financial results of the company have been prepared in accordance with IndAS that came into effect from April 1, 2016.

Commenting on the results, Mr. Nagesh Basavanhalli, MD & CEO said “Despite a challenging market environment, the company with its sustained focus on various lines of business has recorded QOQ revenue growth of 9.88% in the quarter ended September 30, 2016 over Q1 FY 2017 and a 3.3% growth over the corresponding period last year. This has been possible due to strategic initiatives on launching new range of solutions, enhancing service quality and entering new geographies. Contributing to the higher revenue is robust growth in the Farm Equipment Business and the Auxiliary Power business.”
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