Key takeaways from Crompton Greaves conference call
Power equipment and electrical appliances maker Crompton Greaves is seeing a delay in new orders in the domestic market due to a slowdown in project finalisation by customers, its chief executive said on Wednesday.
July 25, 2011 / 13:22 IST
Power equipment and electrical appliances maker Crompton Greaves is seeing a delay in new orders in the domestic market due to a slowdown in project finalisation by customers, its chief executive said on Wednesday.
It posted a drop in overseas revenues for the June quarter due to a slowdown in that segment, Chief Financial Officer Madhav Acharya told a conference call on Wednesday, adding, unrest in Africa and the Middle East earlier this year also hurt business in the region.The firm said on Tuesday its consolidated net more than halved for April-June, sending its shares down more than 15 percent, the steepest fall in the past 27 months.Crompton Greave has touched a 52-week low of Rs 182.25. At 11:18 hrs the share was quoting at Rs 182.30, down Rs 25.35, or 12.21%.
It was trading with volumes of 4,532,705 shares, compared to its 5-day average of 1,016,697 shares, an increase of 345.83%. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
