Crompton Greaves posted a nine per cent drop in net profit at Rs 129 crore for the quarter ended June 30, 2011 as against Rs 142 crore logged in the same period last year. Total income rose to Rs 1,484 crore (Rs 1,358 crore).
Raw material cost was up at Rs 831 crore (Rs 713 crore), besides which employee cost, depreciation and amortisation costs too were higher.
On a consolidated basis, the Group posted a 59 per cent drop in net profit at Rs 79 crore for the quarter ended June 30, 2011 as against Rs 191 crore. Total income was Rs 2,453 crore (Rs 2,321crore).
“Current quarter includes the results of the subsidiaries acquired during the quarter. Consequently, figures for the current quarter are not comparable with the figures of the previous quarter and figures for the previous quarter / year have been regrouped and reclassified, wherever necessary,” the company said.
Crompton Greaves scrip on BSE closed 14.23 per cent down at Rs 207.65 on Tuesday.