Elgi Equipments posts revenue, sales growth

Elgi Equipments recorded a profit after tax (PAT) of Rs 21.6 crore for the quarter ended June 30, 2018, compared to Rs 16.5 crore in the same period in 2017-18. Sales for the quarter stood at Rs 261 crore against Rs 235 crore in the corresponding quarter in 2017-18.

The consolidated PAT for the group for the quarter under review was Rs 18.5 crore as compared to Rs 13.6 crore during the corresponding period in 2017-18. Consolidated sales for the group was Rs 413 crore for the quarter compared to Rs 372 crore in the corresponding quarter in 2017-18.

The company?s compressor business in the domestic market grew by 15 per cent over the corresponding quarter in 2017-18 on the back of increased demand in most of the business segments the company operates in. The company has performed well across the international markets barring some of the Gulf countries and Africa.

The company?s automotive business has registered a 17 per cent growth over the corresponding period in the previous year, which is in line with the industry growth. The recent acquisition of F.R. Pullford & Sons in Australia is expected to serve as a catalyst for further growth opportunities in the region.