Elgi Equipments net rises almost 40% to ₹72 crore

Consolidated sales at ₹739 crore compared with ₹652 crore in the year-earlier period

Jairam Varadaraj, Managing Director of Elgi Equipments. File | Photo Credit: S. Siva Saravanan

Compressor manufacturer Elgi Equipment consolidated profit after tax for the second quarter rose almost 40% to ₹72 crore

Consolidated sales at ₹739 crore compared with ₹652 crore in the year-earlier period. MD Jairam Varadaraj said the company had also registered almost 8% growth in the volume of sales. “Going forward...when the world is threatening to go into some sort of recession...we need to look at how to sustain growth,” he said. Most geographies, including the U.S. and the EU, and almost all verticals did well compared with last year. India business contributed to 40% revenue while rest of the world contributed 60%, he added.