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Coimbatore, July 28

Compressor and automotive equipment maker Elgi Equipments Ltd has recorded a 65 per cent rise in its net profit at Rs 7.8 crore for the quarter ended June 30, 2007 compared with Rs 4.7 crore realised for the same period in 2006-07 fiscal. The audited financial results for the quarter adopted by the company’s board here today has revealed that its net sales rose to Rs 107 crore (Rs 79.5 crore), an increase of 35 per cent. According to the company, Elgi’s compre ssor division registered 50 per cent growth. Whereas the equipment division, though its profitability has improved, has shown negative growth. The company has shown a higher raw material cost at Rs 70.1 crore (Rs 51.6 crore) and a higher employee cost at Rs 8.7 crore (Rs 7.1 crore). —

Our Bureau

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