Crompton Greaves has declared a significant 71% growth in its 1QFY02 turnover. The growth has come after a very long lull. As a result, the company has managed to reduce its losses to Rs 57 m from Rs 675 m recorded in the first quarter last year.
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Crompton Greaves Limited, is India`s largest private sector electrical equipment manufacturer. The company had a series of bad years. But post the first half of FY01, things have started looking up for this company. Crompton Greaves has come back in the black in terms of operational profits in 1QFY02.
If this growth momentum continues in the upcoming quarters too, the company is most likely to report a posiitve bottomline in FY02. The results in the first quarter are better than our expectations.
At Rs 20 the stock is trading near its 52 week lows. Its second quarter results will be interesting to look at, for they would indicate whether this 1QFY02 performance is a one off thing or a sign of things to come.
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