Crompton Greaves reports loss on impairment charge

Crompton Greaves reported a 5.34 billion rupee ($55.76M) net loss for the March quarter following a 7.16 billion rupee impairment charge. The result compares to a 1.7 billion rupee profit last year, despite revenue rising 11% to 22.83 billion rupees. Investors are weighing the cost of the Butterfly kitchen brand acquisition against steady growth in the core electrical durables segment.

Turnaround Costs Hit the Bottom Line