Greaves Cotton's net profit rises to Rs 38 crore in Q3
Greaves Cotton Ltd today said net profit increased to Rs 37.75 crore in the quarter ended December from Rs 34.36 crore in the same period a year earlier.
By PTI | Updated:
MUMBAI: Engineering company Greaves Cotton Ltd today said net profit increased to Rs 37.75 crore in the quarter ended December from Rs 34.36 crore in the same period a year earlier.
Revenue, however, declined to Rs 423.4 crore from Rs 514.56 crore, Greaves Cotton said in a statement.
"Though our sales have been affected by the overall dismal business environment, we have been constantly focusing on our product market growth strategy," Managing Director and Chief Executive Officer Sunil Pahilajani said.
The company has stepped up investment in research and development for new products, he said.
Greaves Cotton has also been driving initiatives focused on cost optimisation and human resource competency development, Pahilajani said.
Revenue, however, declined to Rs 423.4 crore from Rs 514.56 crore, Greaves Cotton said in a statement.
"Though our sales have been affected by the overall dismal business environment, we have been constantly focusing on our product market growth strategy," Managing Director and Chief Executive Officer Sunil Pahilajani said.
The company has stepped up investment in research and development for new products, he said.
Greaves Cotton has also been driving initiatives focused on cost optimisation and human resource competency development, Pahilajani said.
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