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Home arrow News arrow Auto component arrow Greaves Cotton turnover up 16%, PAT rises by 26% for Q1 FY12
Greaves Cotton turnover up 16%, PAT rises by 26% for Q1 FY12 Print E-mail
Written by Vivek   
Friday, 29 July 2011
New Engine manufacturing unit at Aurangabad to go on stream shortly.

Mumbai: Greaves Cotton Limited, one of India's leading engineering companies, reported higher revenue at Rs 401.86 Crores for the quarter ended 30th June 2011 as against Rs 347.70 Crores for the corresponding quarter last year (an increase of 16%). The Profit after Tax (PAT) has increased to Rs 34.95 Crores as against Rs 27.77 Crores, over the same period last year (a quantum growth of 26 %).

"Both our Engines and Infrastructure Equipment segments showed healthy performance on absolute as well as margin parameters. Our financial performance reflects Company's remarkable resilience and illustrates the benefits of concentrated organizational efforts over the past few years aimed at increasing stakeholder value," said Prabhakar Dev, Managing Director & CEO.

"We are confidently moving towards our growth objectives. Our new auto engine manufacturing unit with a production capacity of 80,000 units per year will go on stream shortly at Aurangabad," he added.

The company's Operating profit (EBITDA) grew by 25 % to Rs 56.98 crores for First Quarter ended June 2011. EBITDA margin improved by 110 basis point to 14 %. Profit after Tax (PAT) showed robust growth of 26% to Rs 34.95 crores. Profit after Tax margin improved by 71 basis points to 9 %. Cash Profit depicted equally strong growth of 22 % to Rs 42.20 crores.

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