Greaves Cotton share price: The stock surged on Friday after the diversified engineering firm reported its highest ever quarterly consolidated revenue ever, boosted by a multi-fold jump in electric mobility sales.
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Greaves Cotton shares jumped as much as 7.5 percent on Friday after the diversified engineering firm reported its highest ever quarterly consolidated revenue of Rs 660 crore, boosted by sales in engines and electric mobility segments. The Greaves Cotton jumped to as high as Rs 177.7 apiece on BSE after the earnings announcement.
The company's revenue jumped nearly tripled to Rs 660 crore for the April-June period compared with Rs 229 crore for the corresponding period a year ago. Sequentially, the revenue growth came in at six percent.
Greaves Cotton's profit after tax (PAT) stood at Rs 16 crore for the first quarter of the year ending March 2023, as against a net loss of Rs 22 crore for the year-ago period.
Sales from the electric mobility segment jumped 18 times to Rs 281 crore, and from engine segment increased 77 percent to Rs 347 crore, according to a regulatory filing.
Greaves Electric Mobility recently received a capital infusion of Rs 1,171 crore from diversified global investor Abdul Latif Jameel.
At 1:45 pm, the Greaves Cotton stock held on to the green, up 4.4 percent at Rs 172.6 apiece on BSE.