Elecon Engineering Company Ltd, India's material handling equipments, industrial gears and transmission products manufacturer, has bagged an order worth Rs 17.70 crore from Techpro Systems Ltd, Chennai.

The scope of work involves design, engineering, manufacturing, testing, supplying, fractioning and commissioning of Material Handling Equipments and other Equipments.

In a separate release, Elecon Engineering has announced a net profit of Rs 16.01 crore for the second quarter ended September 30, a 7.08 per cent fall over the corresponding period a year ago. The company had registered a net profit of Rs 17.23 crore in the second quarter of FY'08.

The stock closed today at Rs 47.50 on BSE, down 6% from its previous close. In today’s session the scrip touched its 52-week-low of Rs 46.35.