Crompton Greaves Q1 net falls 30% to Rs 60 crore

Power equipment maker Crompton Greaves (CG) today reported 30 per cent fall in its net profit to Rs 60 crore for the first quarter ended June 30, 2013.

The company has posted a PAT (profit after tax) of Rs 86 crore in the corresponding quarter of the previous financial year, the company said in a filing to the stock exchange.

Total income of the company during the period under review stood at Rs 3,192.5 crore, compared to Rs 2830.3 crore for the same quarter a year ago.

"First quarter of the current fiscal has been an encouraging quarter for CG, despite a challenging market environment. The performance of all our businesses in India has shown significant improvement," CEO and managing director Laurent Demortier said.

The company received orders worth Rs 2,441 crores in the first quarter of the current fiscal.

Shares of the company were trading at Rs 85.50, up 1.24 per cent from the previous close on BSE.