Elecon Engineering's Q3 Profit Dips Amid Rising Expenses

Elecon Engineering Company Ltd reported a 33% drop in net profit to Rs 71.99 crore for the December quarter due to increased expenses. Despite this, total income rose by 4.78% to Rs 570.59 crore, with strong performances in both the material handling and gear divisions.

Elecon Engineering Company Ltd has recorded a significant 33% decrease in consolidated net profit, amounting to Rs 71.99 crore in the December quarter, impacted primarily by surging expenses, according to a filing on Thursday.

Despite the decrease in profit from Rs 107.54 crore the previous year, the company's total income experienced a 4.78% rise, reaching Rs 570.59 crore. Expenses jumped approximately 17.59% to Rs 476.62 crore from the last year's third quarter figures in FY25.

Prayasvin B Patel, CMD, emphasized the ongoing success of Elecon's material handling equipment division, reporting Rs 123 crore in revenue, an increase of 16.3% YoY. Meanwhile, the gear division saw a 1.3% YoY revenue increase to Rs 429 crore, showcasing operational stability across segments.

(With inputs from agencies.)