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Shares of Greaves Cotton up sharply as company's e-mobility venture turns profitable
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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.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
|
₹95.3
|
₹93.6 |
UK Pound
|
₹127.7
|
₹123.7 |
Euro
|
₹110.65
|
₹106.9 |
| Japanese
Yen |
₹59.75 |
₹57.9 |
| As on 24 Jun, 2026 |
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