Crompton Greaves (CG) has entered into long term supply pact with Transpower NZ, owners and operators of the New Zealand national grid. Following this, the company becomes the first of three preferred vendors to supply transformers to Transpower, with the potential to scale to orders worth $15 million annually.
This will help in consolidating Crompton Greaves’ business in Australasia markets with orders that could reach to around $15 million annually
The company, on the consolidated basis, reported a net loss of Rs 189.36 crore for the third quarter ended December 31, 2012 as compared to a net profit of Rs 77.14 crore for the same quarter in the previous year. Total income from operation of the company decreased by 1.35% at Rs 3002.18 crore for quarter under review as compared to Rs 3043.41 crore for the quarter ended December 31, 2011.
