SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 13 May, 2022  

GreavesCotton.THMB.jpg Shares of Greaves Cotton up sharply as company's e-mobility venture turns profitable

GreavesCottonDieselEngine.jpg
   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
SME Times News Bureau | 13 May, 2022
Shares of heavy equipment manufacturer and e-mobility solution provider Greaves Cotton jumped sharply on Friday after the firm reported strong results in Q4FY22.

The company's e-Mobility business reportedly turned profitable in Q4FY22.

At 3.04 p.m., the shares traded up 7.8 per cent at Rs 141.

Earlier in the day, it rose as much as 11 per cent.

The company reported its highest-ever consolidated revenue of Rs 621 crore, up 19 per cent year-on-year from Rs 520 crore in Q4FY21.

Profit after tax rose 22 per cent year-on-year at Rs 17 crore.

However, the company reported standalone revenue of Rs 378.7 crore which declined by 17.1 per cent on a yearly basis.

The company on January 3 launched its mega EV factory in Ranipet in Tamil Nadu. There is a strong demand for electric vehicles as the world is rapidly shifting towards green mobility.

The retail sales of the firm e-mobility business stood at 62,000+ vehicles for FY22, up 128 per cent from FY21 of 27,000+ vehicles, as per reports.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter