Escorts’ Q1 Sequential Profit up 184% at ₹ 36.3 Cr
New Delhi, August 6, 2015: Escorts Limited today reported an increase in net profit by 184% from ₹ 12.8 crore in the previous quarter (ended March 2015) to ₹ 36.3 crore in the first quarter of the current fiscal ending June 30, 2015. Profits were up by 6.3 per cent from ₹ 34.1 crore in the corresponding quarter
The company recorded a sequential increase in tractor volumes of 35% to 14,887 tractors in the first quarter of the current fiscal as against 11,036 tractors in the preceding quarter. However, as compared to the corresponding quarter, tractor volumes were down by 16.6% due to decline in the industry.
The turnover was sequentially up by 19.6 per cent to ₹ 977.7 crore as against ₹ 817.7 crore in the preceding quarter. However, year-on-year performance showed a decline with revenue lower by 13.4% from the corresponding quarter in the previous fiscal.