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Shares of electrical equipment maker Crompton Greaves Ltd tumbled by over 12 per cent in the early trade on the bourses today after the company’s net profit declined by 17.97 per cent in the quarter ended March 31, 2011.
Hit by the disappointing numbers, the scrip made a weak opening on the Bombay Stock Exchange and later plummeted by 12.09 per cent to touch a one-month low of Rs 246.30. Similarly on the National Stock Exchange, it slipped by 12.31 per cent to touch a low of Rs 246.
On the volume front, over 79 lakh shares of the company were traded within the first one hour of trading.
The company’s consolidated net profit fell by 17.97 per cent to Rs 251.43 crore during the fourth quarter ended March 31, 2011 vis-a-vis Q4 of the last fiscal.
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