Crossword Genius

Does no good when the old grey mare looks older still (7)

Ross

I believe the answer is:

damages

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'does' is the definition.
Although both the answer and definition are verbs in their -s form, I can't understand how they can define each other.

I can't explain the remainder of the clue.

Can you help me to learn more?

(Other definitions for damages that I've seen before include "Hurts" , "Moneys paid as compensation for an injury" , "Money awarded as compensation" , "Harms" , "Money paid in compensation for loss or injury" .)

I've seen this clue in the Evening Standard.
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