Greaves Cotton turnover up by 11 per cent
Greaves Cotton has reported higher revenue at Rs464 crore for the quarter ended December 31, 2011 as against Rs419 crore for the corresponding quarter last year (an increase of 11 per cent). The Profit After Tax (PAT) was Rs34 crore as against Rs44 crore, for the same period last year.
Financial performance for nine months ended December 31, 2011, has also shown growth in turnover reaching Rs1,306 crore against Rs1,145 crore for the corresponding period last year, an increase of 14 per cent, the PAT has remained at Rs108 crore.
The business environment, during the quarter under review, was challenging. Many economic indicators affected businesses at large, with high interest rates in particular impacting the construction equipment business, the company said.
Greaves inaugurated its new state-of-the-art light engines unit at Aurangabad with a capacity of 87,000 engines. With this addition, the company’s total production capacity of light engines will go up to more than 3,75,000 per annum. The engines rolled out from the new facility are being supplied to manufacturers of small commercial vehicles.
Sunil Pahilajani, Managing Director and CEO, said, “The businesses of the company are spread over key industry segments like automotive, agriculture, power and construction. Greaves Cotton’s inherent strengths in manufacturing and technology coupled with a diverse product range augur well for growth, in future.”
The company is making significant investments in areas such as product development, research, talent management, marketing and brand building.