Elgi Equipments Ltd, a leading manufacturer of air compressors and automotive equipments, posted a net profit of Rs 11.1 crore for the first quarter of 2009-10, compared to Rs 9.6 crore in the year-ago period.
Even though for the period ended June 2009, sales were marginally low at Rs 130.7 crore as against Rs 131.5 crore in 2008-09, focus on cost control measures resulted in higher profits, company Managing Director Dr Jairam Varadaraj , said in a release here today.
Compared to the last quarter of previous fiscal there was recovery in a few select segments in the domestic market for compressors. The Continued global recession impacted international business and sale was also low than last year, he said.