Earnings | Elgi Equipments Ltd. (NSE: ELGIEQUIP): Q3FY23 Results Out; Total Income rise 18% YoY

Elgi Equipments Ltd. (NSE: ELGIEQUIP) is a leading air compressor manufacturer based in India. The company offers a range of compressed air solutions to various industries, including automotive, textiles, food and beverage, construction, and healthcare. Elgi Equipments is known for its innovative products, advanced technology, and commitment to sustainability. The company has a global presence and exports its products to over 100 countries worldwide.

Elgi Equipments Ltd., has reported its Q3FY23 results. The company has achieved strong sales growth and profitability in the quarter, with consolidated sales of Rs 772 crore and a PAT of Rs 80.1 crore. Standalone PAT for the quarter was Rs 74.6 crore. The compressor business in the domestic market met its targets, while business growth in Europe, North America, and Brazil was strong. However, some regions in the Middle East and Africa, Australia, and certain Southeast Asian countries fell short of their plans.

The company has reported total income of Rs 790.360 crore during the period ended December 31, 2022, compared to Rs 666.434 crore during the period ended December 31, 2021. The company has posted a net profit of Rs 80.061 crore for the period ended December 31, 2022, compared to Rs 41.734 crore for the period ended December 31, 2021, with an EPS of Rs 2.53 for the period ended December 31, 2022. Overall, Elgi Equipments Ltd. has demonstrated a strong financial performance in Q3FY23.