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Air compressor manufacturer Elgi Equipments posted a consolidated profit of ₹43.36 crore in the fourth quarter of FY21 compared to a profit of ₹1.05 crore in the same period last fiscal. Sales during the period under review were ₹610 crore (₹455 crore).
Consolidated profit for the financial year FY21 was ₹102.49 crore compared to ₹42.57 crore in FY20. Sales for the full year was ₹1,924 crore against ₹1,829 crore in FY20.
The compressor business performance in the domestic market was commendable in the fourth quarter while performance on an annualised basis saw marginal growth over last year. The business has performed well in all of the global markets it is present in, said a company statement.
In a very challenging environment, sales of the automotive business witnessed improvement over the same period of last year. The effects and longevity of the pandemic are still unknown and this would certainly have a bearing on the business for 2021-22. Barring this, the company expects to perform reasonably well, it added.
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