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

Top Stories

»	India clocks robust 7.7 pc GDP growth in 2025-26, Q4 growth at 7.8 pc
»	RBI keeps repo rate unchanged at 5.25 pc, maintains ‘Neutral’ stance
»	Crude oil prices fall over 1 pc as ceasefire hopes ease West Asia concerns
»	Forced labour import curbs: US proposes up to 12.5 pc tariff on 60 countries, including India
»	GST collections clock nearly Rs 2 lakh crore in May after robust April

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.