Elgi Equipments Limited III Quarter 2018-19 Revenue stands at Rs. 296 Crores

Elgi Equipments Ltd, manufacturer of air compressors, announced today the results for the third quarter ended 31st December, 2018, posting a PAT of Rs. 19.0 Crores on a standalone basis for the quarter, compared to Rs. 19.4 Crores in the same period in 2017-2018. Sales for the quarter was Rs. 296 Crores as against Rs. 268 Crores in the corresponding quarter in 2017-2018.

The consolidated PAT for the group for the quarter ended 31st December, 2018 was Rs.23,4 Crores as compared to Rs. 28.0 Crores during the corresponding period in 2017-2018. Consolidated sales for the group was Rs. 470 Crores for the quarter ended 31st December, 2018 compared to Rs. 415 Crores in the corresponding quarter in 2017-2018

The Company's compressor business in the domestic market grew by 11% over the corresponding quarter in 2017-18. Domestic sales growth has been in line with expectations, though there have been challenges in some segments. The Company continues to grow its share of business in the domestic market. The Company's international business has grown steadily in its key focus markets. The performance in these markets is in line with expectations.

The Company's automotive business though sluggish this quarter is expected to improve in the latter part of this year.

Outlook for the IV Quarter 2018-19

The domestic market is expected to witness moderate growth and international business is expected to grow to expectations. With its market initiatives, the Company is confident of creating opportunities and opening up new avenues of revenue..