Elgi Equipments Ltd, a manufacturer of air compressors, posted consolidated sales of Rs. 801 crores for the quarter, compared to Rs. 724 crores in the corresponding quarter of 2023-2024, representing a growth of 11 per cent. Standalone sales for the quarter were Rs. 472 crores, up from Rs. 399 crores in the same quarter of 2023-24, reflecting a growth of 18 per cent.

The company reported a PAT (Profit After Tax) of Rs. 72.8 crores for the June 2024 quarter, compared to a PAT of Rs. 60.5 crores for the same period in 2023-2024 on a consolidated basis, indicating a growth of 20 per cent. The standalone PAT for the quarter was Rs. 72.8 crores, compared to a PAT of Rs. 67.1 crores in the same period of 2023-24.

Demand in the Indian and Middle Eastern markets is quite buoyant. Sales have been muted in Europe because of the Ukraine war and rising raw material costs. Performance in the USA is picking up momentum; however, the outlook remains cautious. Growth in the Australian, Brazilian, and South-East Asian markets is largely muted.

Sales in the company's automotive garage equipment business increased marginally compared to the corresponding period of 2023-24. Overall, the company has demonstrated good growth, led by India, compared to the same period last year.

Outlook for the second quarter of 2024-25: The company expects to grow its business at the same level as in the first quarter.