Greaves Cotton’s profit falls to Rs 169 crore in FY19 on account of IL&FS provisioning
Engineering major Greaves Cotton said on Thursday its profit after tax (PAT) dropped to Rs 169 crore in 2018-19 from Rs 203 crore in the previous year.
The exceptional loss includes provision on account of IL&FS, it said in a statement.
However, the company reported 11 per cent growth in revenue for FY19 at Rs 1,988 crore as against Rs 1,792 crore in FY18.
EBIDTA (earnings before interest, taxes, depreciation, and amortisation) for the year grew by 8 per cent at Rs 275 crore in FY19 as against Rs 255 crore in the previous year.
The Q4 FY19 revenue grew by 9 per cent at Rs 528 crore as against Rs 486 crore in Q4 FY18. EBITDA for the quarter ended March 31 remained flat at Rs 70 crore.
Profit after tax was at Rs 37 crore including the provision on account of IL&FS Rs 15.5 crore as against Rs 57 crore in Q4 FY18 including exceptional income of Rs 13 crore.
Greaves Cotton is a diversified engineering company and a leading manufacturer of cleantech powertrain solutions (CNG, petrol and diesel engines), generator sets, farm equipment, e-mobility, aftermarket spares, and services. (ANI)
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