Crompton Greaves Q4 net profit down 75% at Rs 25 cr

Company had posted net profit of Rs 100.32 crore for the January-March quarter of 2011-12 fiscal

Avantha Group company Crompton Greaves (CG) today reported about 75% dip in consolidated net profit of Rs 25.27 crore for the fourth quarter ended March 31.

It had posted net profit of Rs 100.32 crore for the January-March quarter of 2011-12 fiscal. It had posted net loss of Rs 189 crore in the previous quarter (Q3) of 2012-13 fiscal.

Its total income for Q4, 2012-13 stood at Rs 3,392.44 crore, as against Rs 3,077.67 crore in the same period last fiscal, a company statement said here.

The Group has posted net loss of Rs 36.14 crore for the year ended March 31, 2013. Net profit after taxes, minority interest and share of profit/(loss) of its associates was at Rs 373.59 crore for the year ended March 31, 2012.

Total income increased to Rs 12,169.88 crore in 2012-13, as against Rs 11,300.98 crore in 2011-12.

CG has declared a final dividend of 20% amounting to Rs 0.40 per share for last fiscal.

The company said profitability of the business was impacted by restructuring of power transformers activity in Europe. The restructuring of Belgium operations has been completed during the year.

The new European manufacturing platform in Hungary was scaled up as planned, the release said.