Crompton Greaves has slipped 6% to Rs 135, extending Wednesday’s over 12% fall, after reporting weak financial numbers in the last two successive quarters.
The company posted 45% year-on-year (y-o-y) drop in its consolidated net profit at Rs 117 crore for July-September quarter, compared to Rs 213.59 crore in same period last year.
The power systems segment, which accounts for majority of the company’s revenues, was the worst performer. Revenues rose 13% to Rs 2,706 crore (Rs 2,400 crore) and expenses grew 20% to Rs 2,552 crore (Rs 2,110 crore) during the recently concluded quarter.
As many as 5.6 million shares already changed hands on the counter till 0954 hours, against an average 3.7 million shares traded daily in the past ten trading days.
