Greaves Cotton Ltd. saw a significant drop of over 9% in its stock price following the announcement of disappointing Q2 FY25 results.
The company reported a loss of ₹14.33 crore for the quarter ending September 30, 2024, marking a 98% YoY decline compared to the ₹14.49 crore loss in Q2 FY24.
While Greaves Cotton’s revenue from operations grew by 10% QoQ to ₹705.31 crore, it still registered a 3% YoY decline from ₹726.69 crore. Despite a slight increase in cumulative revenue to ₹1,345.01 crore for the first half of FY25, the company posted a loss of ₹14.49 crore, an improvement over the ₹399.52 crore loss in the same period last year.
The stock opened at ₹176.00, peaked at ₹177.00, and hit a low of ₹160.82, reflecting investor concerns over the poor earnings performance.
As of 10:20 am, Greaves Cotton shares were trading 9.59% lower at Rs 162.00 on the NSE.
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