Avantha Group Company, Crompton Greaves is setting up a green-field plant in Jigani Industrial Area, Bangalore. It aims to commission this plant by the year-end and help bolster the country’s smart grid initiative. The plant will be making intelligent electronic devices (IEDs) which are critical in control and monitoring of power systems. It will also assemble control and relay panels using these IEDs.
The company has reported 0.56% fall in its net profit at Rs 111.69 crore for the quarter ended September 30, 2012 as compared to Rs 112.32 crore for the same quarter in the previous year. However, total income of the company has increased by 14.75% at Rs 1684.88 crore for quarter under review as compared to Rs 1468.29 crore for the quarter ended September 30, 2011.