Chennai, May 22 (PTI): Air compressors manufacturer Elgi Equipments Ltd expects to perform "reasonably well" during the current financial year in the wake of the COVID-19 pandemic, the company said on Saturday.

The compressor business performance during the fourth quarter was 'commendable' while on a year-on-year basis it saw a 'marginal growth' over last year.

"The business has performed well in all of the global markets it is present in", the company said

On the outlook for 2021-22, Elgi Equipments Ltd said the effects and longevity of the pandemic are still unknown and it would certainly have a bearing on the business for 2021-22.

"Barring this, the company expects to perform reasonably well", it said while declaring the financial results for the quarter and year ending March 31, 2021 late last evening.

The consolidated Profits After Tax for the quarter ending March 31, 2021 grew to Rs 43.36 crore as compared to Rs 1.05 crore recorded in the same period last year.

For the financial year ending March 31, 2021 consolidated PAT grew to Rs 102.49 crore from Rs 42.57 crore registered a year ago.

Sales on consolidated basis for the quarter ending March 31, 2021 stood at Rs 610 crore compared to Rs 455 crore in the same quarter last year, a press release here said.

Consolidated sales for the year ending March 31, 2021 grew to Rs 1,924 crore as against Rs 1,829 crore registered last year.

The Board has recommended a dividend of Rs 0.80 per share (80 per cent) for the year 2020-21, subject to the approval of shareholders.

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