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Engineering company Greaves Cotton today said its net profit rose marginally to Rs 31.76 crore for the first quarter ended June 30, 2013.
The company had posted a net profit Rs 31.55 crore during the corresponding period, last year, the company said in a statement issued here.
The firm’s income from operations stood at Rs 412.28 crore for the quarter under review, as compared to Rs 412.06 crore in the year ago period.
“Despite a tough and challenging business scenario plagued with weakened business sentiments, Greaves has maintained its top line, and continues to focus on key initiatives critical to its growth strategy. Though the sales have been more or less flat, we expect positive traction from certain sectors of the economy,” Sunil Pahilajani, Managing Director and CEO, Greaves Cotton said.
“On the business front, the monsoons have resulted in increased demand and sales for farm equipment business,” he added.
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