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Home arrow Business News arrow Elecon Engineering registers turnover of Rs 335 crore for Q2 2011
Elecon Engineering registers turnover of Rs 335 crore for Q2 2011 Print E-mail
Written by Vijay   
Wednesday, 09 November 2011
Mumbai: Elecon Engineering Ltd achieved a turnover of Rs 335 crore for the second quarter ended on September 30th 2011, as against Rs 278 crore for the corresponding period in the previous year, representing a growth of 20%. Profit before tax increased from Rs 20 crore to Rs 25 crore representing a growth of 24%. Net profit after tax increased from Rs 14 crore to Rs 16 crore representing a growth of 10%.

"The growth in turnover and net profit has come from increased marketing efforts, better manufacturing efficiencies and rationalisation of costs," said Prayasvin Patel, Chairman & Managing Director, Elecon Engineering Company Ltd.

"The Material Handling Division has achieved a significant growth of 19% with a large order book position and the Gear Division has also shown a remarkable growth of 22%. We look forward to continuing this trend," he added.

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