Elecon Engineering, a Gujarat-based company, a leading manufacturer of bulk Material Handling Equipments (MHE) and Industrial Gears (IG) has delivered a 56.7% jump in its PAT backed by 32% reduction in interest costs. However the operational performance continues to remain muted with just 9% rise in its profitability.
Revenues grow 16% led by MHE segment
Net revenues for the quarter were up 15.9% at Rs 246 crore from Rs 212.3 crore registered during the corresponding quarter of the previous year. This was largely attributed by MHE segment which showed a growth of 16% at Rs 149.8 crore. On the other hand Industrial gears segment grew 11.4% at Rs 101 crore.