Greaves Cotton Limited reported revenue growth of 13 per cent to Rs 506 crore for Q3 FY19 as against Rs 447 crore in Q3 FY18 (GST comparable numbers). EBITDA for the quarter ended December 31, 2018 grew by 14 per cent to Rs 71 crore as against Rs 62 crore in the corresponding quarter of the previous year.
Profit before exceptional items and tax grew by 17 per cent to Rs 68 crore for the quarter ended December 31, 2018 as against Rs 58 crore reported in the corresponding quarter last year. Profit after tax (PAT) was at Rs 43 crore in Q3 FY19 (includes exceptional loss Rs 3.3 crore net of taxes) against Rs 56 crore in Q3 FY18 (includes income from exceptional income, Rs 15 crore net of taxes).
Nagesh Basavanhalli, Managing Director and CEO, Greaves Cotton said, "Greaves Cotton is pleased to announce the 7th consecutive quarter of profitable growth. Our third quarter financial results are strong and in line with our strategic plan. We are increasing investments in last mile e-mobility solutions, supported by a strong network of 250+ Greaves retail outlets and 5,000+ spares outlets across the country. We remain committed to creating lasting value with clean technology solutions and emerge as a trusted partner to all our stakeholders.”
YTD FY19 increased by 12 per cent to Rs 1,460 crore as against Rs 1,306 crore in YTD FY18 (GST comparable numbers). EBITDA for YTD Q3 FY19 grew by 11 per cent to Rs 205 crore as against Rs 185 crore in the corresponding period last year. Profit before exceptional items and tax grew by 12 per cent to Rs 198 crore for the nine months’ period ended December 31, 2018 as against Rs 176 crore reported in the corresponding period last year.
PAT for YTD FY19 was at Rs 132 crore (includes exceptional loss Rs. 3.3 crore net of taxes) against Rs 146 crore in YTD FY19 (includes income from exceptional item, Rs 23 crore net of taxes). In spite of inflationary environment across industry, as a result of new initiatives the company has been able to maintain its EBIDTA margin at 14 per cent with focus on responsible technologies. With Cleantech, BSVI solutions will boost the innovation ecosystem and capabilities in the CNG segment with revolutionary new engine technology.