During the December quarter, Elgi Equipments posted a net profit of Rs16.85 crore driven by healthy sales in international markets
Elgi Equipments Ltd, an air compressor manufacturer, reported a 22% growth in its third quarter net profit, mainly driven by healthy growth in overseas sales.
For the quarter to end-December Elgi Equipments said its net profit rose 22% to Rs16.85 crore from Rs13.8 crore, while its total revenues, including sales, increased marginally to Rs198.1 crore from Rs195.3 crore, a year ago period.
“Prevailing economic growth and political uncertainties continue to hamper the domestic market. However, international markets contributed to overall growth. Sales by automotive division declined 11% impacted due to sustained downturn in the domestic automotive market,” Elgi Equipment said in a regulatory filing.
Elgi Equipment closed Thursday marginally down at Rs88.50 on the BSE, while the 30-share Sensex ended the day flat at 20,310.
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