Escorts’ Q1 Sequential Profit up at Rs. 34.1 Crore
Escorts Limited reported an increase in net profit from Rs 31.8 crore in the previous quarter to Rs 34.1 crore in the quarter ending June 30, 2014. The company recorded an increase of 14.7% in tractor volumes from 15,556 tractors in the previous quarter ended March 31, 2014 to 17,849 tractors in the first Quarter of fiscal 2014-2015. Construction Equipment volumes also increased to 719 units, an increase of 6.2 per cent over the preceding quarter. EBIDTA was up by 38 bps at 4.7% in the previous quarter ending March 2014 to 5.0% in the current quarter ended June 30.
However, year-on-year performance showed a decline with revenue lower by 4% from the corresponding quarter in the previous fiscal.