Mumbai: Material handling equipment maker Elecon Engineering Co Ltd has bagged five major orders worth a total of Rs524 crore ($124.7 million).
The orders include two orders worth Rs400 crore from Bramhani Industries, two contracts of Rs68.7 crore from Bharat Heavy Electricals Ltd and an order worth Rs31.24 crore from Tecpro Systems, company chairman and managing director Prayasvin Patel said.
Elecon has also won two overseas orders worth Rs242.4 million - one from Egypt and the other from Indonesia's PT Tecgates Engineering, Patel said.
Gujarat-based Elecon designs and manufactures a wide range of worm, parallel shaft and right angle shaft helical and spiral bevel helical gears with horizontal and vertical output shafts in various sizes, from single to quadruple stage reduction as also flexible, geared and fluid couplings.
Elecon reported a net profit of Rs11.94 crore for the first quarter of 2008-09 compared to Rs10.4 crore in the corresponding period of the previous year - a 14.7 per cent growth.
The total sales of the company during the quarter have risen by 30.10 per cent to Rs168 crore.