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Corporate Results - Engineering


Elgi Equipments posts rise in net sales, profit in Q4

Our Bureau

Coimbatore , April 26

ELGI Equipments Ltd, manufacturers of compressors and automotive equipment, has witnessed a substantial increase in net sales and net profit in the fourth quarter of 2003-04 compared to the corresponding period in 2002-03.

The company's full year sales performance recorded a 31 per cent increase while its profit before tax (PBT) saw a jump of 74 per cent.

The net sales (less excise duty) in the fourth quarter stood at Rs 77.09 crore against Rs 68.12 crore. The profit after tax was Rs 11.9 crore (Rs 7.1 crore).

However, the profit after extraordinary items such as VRS compensation and actionable claim written off was less at Rs 2.5 crore (Rs 4.09 crore).

For the full year, the company recorded net sales (less excise duty) of Rs 290.51 crore (Rs 221.39 crore) and the profit after providing for extraordinary items was Rs 19.05 crore (Rs 11.39 crore).

The board has declared a final dividend of 60 per cent taking the total dividend to 120 per cent for the full year.

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