 "Greaves Cotton's Q4 net up 58%")
Greaves Cotton Ltd, one of India's leading engineering companies, has reported 58% increase in its net profit at Rs 38 crore for the quarter ended March 31, 2016 as against Rs 24 crore for the corresponding period last year.
Total revenue of the company jumped to Rs 405 crore for the January - March quarter of 2016 as against Rs 394 crore for the quarter ended March 31, 2015.
EBITDA for the quarter ended March 31, 2016 was Rs 63 crore as against Rs 45 crore for the same period last year, thereby recording a growth of 40%.
Commenting on the results, Sunil Pahilajani, Managing Director and Chief Executive Officer, said, "In the current weak market scenario where revenue growth is challenging, the company has continued its focus on margin enhancement and has sharply improved its EBITDA Margin for the year from 12% to 17%."
For the year ended March 31, 2016, total revenue stood at Rs 1,616 crore as against Rs 1,689 crore in the previous year. Profit after tax for the year was at Rs 199 crore against Rs 82 crore in the previous year.
Commenting on the tightening of emission norms, Pahilajani reiterated that "We are well placed to implement the BS IV norms for 4-wheelers and 3-wheelers in 2016-17 and are confident of providing the necessary solutions to meet BS VI norms by working closely with our OEMs, suppliers and technology specialists. We had showcased the 3-cylinder engine in the Auto Expo as well and have received an encouraging response. Also, we continue to focus and build on our Farm Equipment product range. With the forecast of a normal monsoon, we have readied a range of products that will be launched through the coming year."
