Greaves Cotton Q2 net loss narrows to ₹14 crore

Greaves Cotton Ltd., a diversified engineering company, narrowed consolidated net loss to ₹14 crore for the second quarter ended September 30 from a net loss of ₹375 crore a year ago. 

The company’s stock on Wednesday plunged 11.15% to ₹159 on the BSE.

The company’s revenue from operation during the quarter decreased to ₹705 crore from ₹727 crore in the same period last year, down 3%. 

Akhila Balachandar, Chief Financial Officer, Greaves Cotton Ltd said, “Our Q2 FY25 results underscore the robustness of our diversification strategy and the momentum we are building across our businesses. 

“Our performance in Retail, Engineering, and Excel [business], alongside the promising growth in Electric Mobility, reflects our agile approach to meeting diverse market demands,” she said. 

“Our fuel-agnostic strategy continues to expand our reach and adaptability, reinforcing our confidence in the path we have charted. This momentum reaffirms our commitment to delivering consistent value for our stakeholders,” she added.

Published - November 13, 2024 09:59 pm IST