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Chennai, Could 12 (IANS) Diversified engineering firm Greaves Cotton (NS:) Ltd closed the final quarter of FY22 with a consolidated income of Rs 621 crore, mentioned a high firm official.
“We closed the This autumn of final fiscal with a consolidated operational income of about Rs 621 crore, up from about Rs.520 crore earned in the course of the earlier yr corresponding interval. The brand new enterprise began 4 years again contributed bulk of the income,” MD and Group CEO Nagesh Basavanhalli informed IANS.
The corporate reported a revenue earlier than tax of about Rs 27 crore and a web revenue of about Rs 17.56 crore throughout This autumn.
For the complete yr, Greaves Cotton reported consolidated whole earnings of Rs 1,732.05 crore and a complete lack of about Rs 33 crore for FY22.
In line with Basavanhalli, the demand for auto engines is selecting up.
The group’s electrical car gross sales stood at about 62,000 models final fiscal up from 27,000 models offered in FY21.
Basavanhalli mentioned 90 per cent of the automobiles offered are powered by lithium-ion battery.
Queried in regards to the affect on gross sales of electrical two wheelers as some automobiles made by couple of Greaves Cotton rivals went up in flames, he mentioned: “We have not seen any gross sales affect. However clients are asking questions and they’re being answered.”
–IANS
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