Elecon Engineering, one of the India's largest material handling equipment and transmission products manufactures announced its unaudited results for the first quarter ended on 30 June 2011. The company has achieved a turnover of Rs 254 crore as against Rs 245 crore quarter to quarter, representing a growth of four per cent. Gross profit from operations increased from Rs 19 crore to Rs 22 crore. Net profit after tax increased from Rs 13 crore to Rs 15 crore representing a growth of 12 per cent. Commenting on the results, Prayasvin Patel, Chairman & Managing Director, Elecon Engineering Company said, "While our sales saw a growth of four per cent, the net profit increased to 12 per cent as a result of our aggressive cost rationalization and operational efficiency. Elecon continues to maintain a very healthy order book position which will be executed over a period of time." Always in the forefront of innovation and technology in the manufacturing and engineering sector, Elecon's Material Handling Equipment (MHE) division has procured a prestigious order worth Rs 176.49 crore from NMDC. creating a great momentum to start the financial year strongly.