Engineering firm Greaves Cotton today said its net profit for the fourth quarter ended March 31, was down by 52.8 per cent to Rs 14.37 crore.
In a filing to the Bombay Stock Exchange, Greaves Cotton said it had a net profit of Rs 30.46 crore in the same quarter ended March 31, 2008.
Net sales of the company declined to Rs 262.03 crore during the quarter under review, from Rs 339.29 crore for the same quarter previous fiscal.
The company has appointed Prabhakar Dev as its Managing Director and Chief Executive Officer, effective from May 4.
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