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Escorts Ltd. Q3 Net Profit Up by 52.3% at ₹ 140.1 cr.

  • Tractor volumes up by 36% at 25,743 units
  • Construction Equipment volumes up by 30.0% at 1,413 units
  • EBIDTA from continued operations up by 38.2% at ₹ 200.5 crore
  • Profit from continued operations up by 52.3% at ₹ 140.1 crore

New Delhi, January 28, 2019: Escorts Limited today reported a profit of ₹ 140.1 crore in the quarter ending December 31, 2018 up by 52.3 percent as against a profit of ₹ 92 crore in the corresponding period last fiscal. Revenue from operations up by 37.4% to ₹ 1,655.1 crore in quarter ended December 2018 as against ₹ 1,205.0 crore in the corresponding period last fiscal.

The net profit for the nine months ending December 2018 was up by 56.6 percent at ₹ 363.5 crore in nine months ended December 2018 as against a profit of ₹ 232.2 crore in the corresponding period last fiscal. Revenue from operations up by 27.5% to ₹ 4,564.7 crore in nine months ended December 2018 as against ₹ 3,579.9 crore in the corresponding period last fiscal.

Speaking on the results, Chairman and managing Director Mr. Nikhil Nanda said,

“Escorts today is driving technology led growth across businesses and endeavour to engineer unique engineering solutions for mechanized agriculture and strengthened infrastructure. We are continuously investing in new technologies, product mix and expanded distribution network for significant domestic growth and global reach. With recent technology collaborations and strategic JVs with global leaders like Kubota, Tadano and others, we aim to manufacture innovative products for emerging economies and offer unique solutions for domestic mechanized farming, smart construction and safe modern railways.”

Segment Wise Performance

Escorts Agri Machinery

Tractor sales were up by 36% at 25,743 units during the third quarter of the current fiscal. EBIT margins for quarter ended December 2018 at 14.3% as compared to 14.6% in the corresponding period last fiscal.

For nine months of current fiscal tractor volumes up by 25.4% at 71,276 units as compared to corresponding period last fiscal. EBIT margin for nine months of fiscal up at 14.4% as compared to 13.1% in the corresponding period last fiscal.

Escorts Construction Equipment

Sales of construction equipment went up by 30% at 1,413 units in quarter ended December 2018 as against 1,087 units in the corresponding quarter. EBIT margin up at 3.5% as compared to 2.2% in the corresponding period last fiscal.

For nine months of current fiscal Construction equipment’s volumes up by 38.9% at 4,089 units as compared to corresponding period last fiscal. EBIT margin for nine months of fiscal up at 2.2% as compared to 0.3% in corresponding period last fiscal.

Railway Products Division

Revenue for the third quarter up by 34.1% at ₹ 96.6 crore as against ₹ 72.0 crore in the corresponding quarter. EBIT margin up at 19.9% as compared to 13.0% in the corresponding period last fiscal.

For nine months of current fiscal revenue up by 38.0% at ₹ 290.6 crore as compared to corresponding period last fiscal. EBIT margin for nine months of fiscal up at 21.6% as compared to 13.2% in corresponding period last fiscal. Order book at end of December’18 is more than ₹ 450 crore and will be executed in the next 13~15 months.

The reviewed accounts of the third quarter and nine months ended 31st December 2018 has been approved by the Board of Directors of Escorts Limited.

For further information, kindly contact:

Sharad Gupta

Prateek Singhal

Group Head Corporate Brand Communications Escorts Ltd.
Sharad.gupta@escorts.co.in

Investor Relations - Escorts Ltd.
Contact No: +91 129 2564921
Email ID: prateek.singhal@escorts.co.in
investorrelation@escorts.co.in

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