From correspondents in Andhra Pradesh, India, 10:34 PM IST

Elecon Engineering Company Ltd., one of India’s largest Material Handling Equipments and Transmission Products manufacturer, announced its unaudited financial results for the quarter ended 30th June, 2008. The company has recorded a turnover of Rs. 168.65 crores as against Rs. 129.01 crores in the previous year, representing a growth of 31%.

Net profit (PAT) grew by 15% at Rs. 11.94 crores as against Rs. 10.41 crores in the corresponding period last year.

Commenting on the performance, Mr. Prayasvin Patel, Chairman & Managing Director, Elecon Engineering Company Ltd. said, “The growth in Turnover and Net Profit has come from increased marketing efforts, better manufacturing efficiencies and rationalization of costs. The Material Handling Division has achieved a remarkable growth of 58% with a large order book position and aggressive marketing initiatives. We look forward to continuing this trend”.

Source: Press Release Distribution via India PRwire