Financial Daily from THE HINDU group of publications
Monday, Jan 30, 2006
Financial Daily from THE HINDU group of publications Monday, Jan 30, 2006 |
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Corporate Results
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Automobile Components Elgi Equipment posts higher sales, net profit Our Bureau
Coimbatore , Jan. 29 AIR compressor and automotive equipment manufacturer Elgi Equipments Ltd has recorded a near 20 per cent rise in net sales during the third quarter of current fiscal compared with the corresponding period last year. A higher provisioning for the VRS compensation brought down the net profit in Q3 of 2005-06 that was still higher than the third quarter net profit during 2004-05. The audited financial results showed that the net sales during the quarter ending December 31, 2005 was Rs 77.48 crore compared with Rs 65.11 crore during the corresponding period in the previous financial year. The profit before tax went up by nearly 70 per cent to Rs 8.6 crore (Rs 5 crore) and the net profit before extraordinary items was higher by about 50 per cent at Rs 6.34 crore during the third quarter of current financial year compared with Rs 3.96 crore in the same period last year. The basic EPS for the quarter stood at Rs 0.73 (face value of share Re 1) that was higher than the EPS of Rs 0.61 during the same period last fiscal.
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