Elecon Engineering April-June Net Profit More Than Doubles On One-Time Gain

Elecon Engineering Co. Ltd. on Friday reported a consolidated net profit of ₹1.75 billion for  April–June, more than double the year-ago figure, helped by a one-time income of ₹804.7 million. Excluding the exceptional item, profit stood at ₹949.7 million.

Revenue from operations rose 25% on year to ₹4.91 billion, though it declined 38.5% sequentially. Net profit rose 19.8% quarter-on-
quarter.

Total expenditure in the June quarter increased to ₹3.91 billion from ₹3.15 billion a year ago. Finance cost more than doubled to ₹61.5 million. Other income rose to ₹264.3 million from ₹144.3 million a year ago.

The company’s tax outgo for the quarter stood at ₹316.8 million, up from ₹207.9 million a year earlier.