Greaves Cotton reports Rs 458 crore revenue in Q1 FY19, up 13%

by Autocar Pro News Desk , 13 Aug 2018

Greaves Cotton, one of the leading engineering companies in India with core competencies in fuel agnostic powertrain solutions and services, farm equipment and Gensets, has reported a 13 percent YoY growth with a revenue of Rs 458 crore in Q1 FY19 as against Rs 406 crore in Q1 FY18.

Greaves Cotton has reported that it’s EBITDA for the quarter ended June 30th, 2018 grew by 10 percent to Rs 61 crore as against Rs 55 crore in the year-ago quarter. As per their financial reports, the profit after tax in Q1 of FY19 stood at Rs 40 crore, which is Rs 1 crore less than what they achieved in Q1 of the previous year.

Commenting on the results, Nagesh Basavanhalli, managing director and CEO, Greaves Cotton said, "Our relentless focus on our strategic plan has enabled us to maintain the growth momentum 5 quarters in a row. Through a focused approach towards growth and cost rationalisation, we have been able to grow our EBITDA, in spite of commodity prices inflation. We will continue to expand our business footprint, increase operational excellence and create value for our customers to drive sustainable growth in the future."

The company claims that it will comfortably achieve all its financial goals through its six manufacturing units. The company claims that 400,000 engines are being manufactured annually at their plants in Pune, Aurangabad and Ranipet.

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