Greaves Cotton, the engineering company, today reported 13% decline in profit after tax (PAT) at Rs 33.6 crore for the quarter ending September 30, compared to the same period of the previous fiscal.
The company's PAT stood at Rs 38.6 crore in the corresponding quarter last year, Greaves Cotton said in a release issued here.
Greaves Cotton's revenue grew marginally by 2.2% to Rs 450.1 crore for the second quarter against Rs 440.4 crore in the same quarter last year.
"Weathering tough times, we have recorded a marginal increase in top line, this quarter. The slow, but optimistic developments in the automotive sector have been reflective in our engines sales and have contributed to a marginal increase in top line. As an organisation, we have embarked on certain initiatives towards costs optimisation which are slowly delivering results," Greaves Cotton Managing Director and CEO Sunil Pahilajani said.
