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Greaves Cotton has posted a 66 per cent rise in net profit at Rs 78 crore for the quarter ended March 31, 2012.
There was an exceptional income of Rs 43 crore during the quarter. Profit from sale of land and building amounted to Rs 77 crore and provisioning for obsolescence of inventory and diminution in value of investment totalled Rs 34 crore.
Net sales were down two per cent at Rs 445 crore (Rs 454 crore). The company declared a final dividend of 10 per cent. The total dividend for the fiscal, including interim dividend, stands at 110 per cent or Rs 2.20.
On Friday, the company scrip closed 3.21 per cent down at Rs 76.85 on the BSE.
murug@thehindu.co.in
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