Elecon Engineering announces Q1 Results for FY 2015-16
Reports turnover of Rs. 257.14 crore and net profit of Rs. 4.13 crore Elecon also announces appointment of Mr. Rakesh Makhija as Additional Independent Director
Elecon Engineering Company Ltd., one of India’s largest Transmission Products manufacturers, announced its unaudited consolidated financial results for the first quarter of this financial year 2015-16 that ended on June 30, 2015. The consolidated turnover for the Q1 FY2015-16 was 257.14 crore as against Rs. 267.85 crore in the quarter that ended in June 2014.
Elecon Engineering has posted a consolidated net profit of Rs. 4.13 crore for Q1 for FY 2015-16. In Q1 of FY 2014-15, the company had posted a loss of Rs. 6.70 crore. The profit declared by the company before tax is Rs. 2.93 crore.
The results were announced after the Elecon Engineering board meeting held on August 14, 2015. The company also announced the appointment of Mr. Rakesh Makhija as an Additional Independent Director with immediate effect. The board also intimated the Stock Exchange about the resignation of Company Secretary, KMP & Compliance Officer Mr. Paresh M. Shukla with effective from August 31, 2015.
About Elecon Engineering Company Ltd.:
Established in 1951, Elecon Engineering Company Ltd0 of Vallabh Vidyanagar, Gujarat, India, pioneered the manufacture of material handling equipment. During these six decades, Elecon has designed and implemented several landmark projects in India as well as abroad. From a modest start of design and manufacture of Elevators and Conveyors from which incidentally, the company derives its corporate identity. viz. “Elecon”. It has grown over the years to be known as a pioneer of the concept of mechanized way of Bulk Material Handling Equipment in India. During the span of more than 6 decades, Elecon has encompassed all the major core sectors through its supplies of highly sophisticated equipment bearing ample testimony of the symbolic mark of Elecon’s unbeatable technology. Elecon has thus, made its presence felt through consistent and satisfactory performance of its equipment in such core sectors as fertilizer, cement, coal/power generation, chemical, steel plant and port mechanization etc., across the country.
