Greaves Cotton posts 26 per cent PAT growth

Greaves Cotton reported flat standalone revenue for the quarter at Rs. 447 crore from Rs. 450 crore in the corresponding quarter of last year.

The company's EBITDA for the quarter rose by 2.9 per cent yoy to Rs. 62.24 crore with a corresponding margin expansion of 48 bps. EBITDA margin for the quarter stood at 13.9 per cent.

The PAT for the quarter came in at Rs. 55.61 crore, yoy increase of 26.1 per cent. This was due to a one-time gain of Rs. 22.61 crore in the quarter.

The stock of Greaves Cotton was also not spared from the market sell-off. At 11:11 hours, the stock was down by almost 3 per cent from its previous close and was trading at Rs. 128.4 per share on Tuesday.