Business Daily from THE HINDU group of publications
Sunday, Jul 23, 2006
Business Daily from THE HINDU group of publications Sunday, Jul 23, 2006 |
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Corporate Results
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Engineering Elgi Equipments posts higher net Our Bureau
Coimbatore , July 22 Elgi Equipments Ltd has witnessed growth in net sales and profit in the first quarter of 2006-07 compared to the corresponding period in 2005-06. The company has decided to carve out a separate manufacturing and engineering division in view of the growth potential offered by this segment. According to the audited financial results, the gross sales moved up in the first quarter to Rs 86.97 crore (Rs 74.89 crore). . The net sales were up at Rs 79.52 crore (Rs 68.14 crore). Though the total expenditure, including raw material cost and staff cost, washigher at Rs 72.96 crore (Rs 63.58 crore), the profit before tax increased to Rs 7.3 crore (Rs 6.6 crore). The net profit after extraordinary item was higher at Rs 4.7 crore (Rs 4.3 crore). The basic EPS in the first quarter of this year was Re 0.76 (Re 0.70) — of the face value of share Re 1. In a press release, the company said the sales were up by 17 per cent in the first quarter of this year compared to the corresponding quarter of 2005-06. Profit from operations (without other income) before tax went up by 44 per cent The compressor business registered a growth of 11 per cent and the sale of automotive equipments grew by 51 per cent. The international business was higher by 32 per cent.
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