Crompton Greaves net dives 30%

Crompton Greaves has posted a 30 per cent drop in net profit at Rs 60 crore (Rs 86 crore) for quarter ended June 30. Revenues were up 12 per cent at Rs 3,157 crore (Rs 2,811 crore). The company said it has received orders worth Rs 2,441 crore during the quarter and order backlog stood at Rs 9,771 crore. The current quarter figures are not comparable to that of the previous year as it includes the results of ZIV Group, Spain, which was acquired last year, the company said.