Elgi Equipments rose 2.79% to Rs 399.85 after the company's consolidated net profit rose 20.57% to Rs 41.73 crore on 19.84% rise in net sales to Rs 655.62 crore in Q3 December 2021 over Q3 December 2020.
On a consolidated basis, profit before tax (PBT) jumped 39.17% to Rs 63.67 crore in Q3 December 2021 over Q3 December 2020.Total expenses rose 18.64% year-on-year to Rs 602.49 crore in Q3 December 2021. Cost of raw material consumed rose 32.45% to Rs 310.27 crore during the quarter.
Except for the Australia where the impact of COVID was more pronounced, the company performed well in India and other international markets. The company said its automotive business also performed well.
The company said it expects to deliver moderate growth in Q4 March 2022 over the corresponding period of the last financial year.
Elgi Equipments is a global air compressor manufacturer with a broad line of innovative and technologically superior compressed air systems.
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