Financial Daily from THE HINDU group of publications
Thursday, Jan 29, 2004
Financial Daily from THE HINDU group of publications Thursday, Jan 29, 2004 |
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Corporate Results
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Automobile Components Elgi Equipments gross sales up 46 pc R.Y. Narayanan
Coimbatore , Jan. 28 ELGI Equipments Ltd (EEL), the city-based air compressor manufacturer, has recorded a substantial increase in net sales and net profit in the third quarter of the current fiscal compared to the corresponding period last year. The material consumption cost as a percentage of sales has registered a marginal fall, though the actual cost of material consumed had gone up. The gross sales in Q3 moved up to Rs 88.08 crore compared to Rs 60.33 crore, showing a 46 per cent increase. The compressor segment showed a 47 per cent growth in sales — from Rs 52.78 crore to Rs 77.66 crore. The automotive equipment division registered a 36 per cent rise in sales — to Rs 9.7 crore from Rs 7.1 crore. The net profit, before extraordinary items, moved up to Rs 9.7 crore as against Rs 5.3 crore. The profit after providing for extraordinary items such as VRS payment, was Rs 6.4 crore (Rs 2.8 crore).
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