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Crompton Greaves, on a consolidated basis, has posted a 21 per cent rise in net profit at ₹70 crore for the quarter ended September 30 against ₹58 crore in the same quarter last year. It has declared an interim dividend of 20 per cent — 40 paise per share. Total income rose ₹3,476 crore (₹3,274 crore). On Thursday, the board approved the scheme of demerger of the consumer products business unit from itself into a wholly owned subsidiary — Crompton Consumer Products Ltd. The board also approved a definitive agreement for sale of a portion of its land at Kanjurmarg (in Mumbai) of about eight acres to Evie Real Estate for ₹302.26 crore. On Thursday, the company scrip closed 8.18 per cent down at ₹188.70 on the BSE.
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