Greaves Cotton reports Q2FY19 results, stock rises

Greaves Cotton limited, one of India's leading engineering companies, reported revenue growth for H1 FY19 at 11% to Rs. 953 crore as against Rs. 859 crore in H1 FY18. EBITDA for half year ended September 30th, 2018 grew by 9% to Rs. 134 crore as against Rs. 123 crore in the corresponding H11ast year. 

Profit before exceptional items and tax grew by 10% to Rs.130 crore for half year ended September 30th, 2018 as against Rs. 118 crore reported in the corresponding H11ast year. 

Profit after tax maintained at the same level at Rs. 89 crore in H1 FY19 (no exceptional income) against Rs.90 crore in H1 FY18 which includes income from exceptional item, Rs. 8 crore net of taxes. 

Q2 FY19 revenue grew at 9% to Rs. 495 crore as against Rs. 452 crore in Q2 FY18 (GST comparable numbers). EBITDA for the quarter ended September 30th, 2018 grew by 8% to Rs. 73 crore as against Rs. 68 crore in the year-ago quarter. 

Profit before exceptional items and tax grew by 11% to Rs. 72 crore for the quarter ended September 30th, 2018 as against Rs. 65 crore reported in the corresponding quarter last year. Profit after tax at Rs. 49 crore in Q2 FY19 (no exceptional income) against Rs. 49 crore in Q2 FY18 which includes income from exceptional item, Rs 4 crore net of taxes.

The shares of the company closed at Rs 117.60, up by 1,20 per cent on Thursday.