Crompton Greaves dipped 6.25% to Rs 235.50 even as it reported 24.6% growth in net profit in Q4 March 2007.

The results were announced during the market hours today, 30 May 2007.

On BSE, close to 8.35 lakh shares were traded on the counter.

From a recent peak of Rs 228.95 on 4 January 2007, the stock fell to Rs 177.30 on 20 March 2007. Thereafter, it bounced back to its original position at Rs 229.60 on 15 May 2007. The share price showed pre-results rally in anticipation of good results and acquisition of Microsol Holding, as the scrip rose from Rs 218.30 on 22 May 2007 to Rs 251.20 on 29 May 2007.

Crompton Greaves (CGL)'s net profit rose 24.63% to Rs 69.92 crore in Q4 March 2007 as against Rs 56.10 crore in Q4 March 2006. Sales rose 34.93% to Rs 1077.17 crore in Q4 March 2007 as against Rs 798.31 crore in Q4 March 2006.

The net profit rose 17.98% to Rs 192.37 crore in the year ended March 2007 (FY 2007) as against Rs 163.05 crore in FY 2006. Sales rose 45.20% to Rs 3659.98 crore in FY 2007 as against Rs 2520.59 crore in FY 2006.

Crompton Greaves announced on 28 May 2007 that it concluded an arrangement to acquire Microsol Holdings together with other companies in the Microsol group for 10.50-million euros.

Microsol Holdings is based in Ireland with operations in the UK, the US and Ireland and provides sub-station automation for MV and HV sub-stations. This acquisition will increase Crompton Greaves' strengths in high-end engineering and sub-station automation capabilities.

Crompton Greaves is mainly engaged in the manufacture, distribution and sale of electrical and electronic equipment/ systems.