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Escorts’ Q2 tractor sales up by 3.3% at 21,039 units

The net profit of the group for the first half year ending September 2018 was up by 59.4 percent at Rs 223.4 crore as against a profit of Rs 140.2 crore in the corresponding period last fiscal

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Escorts’ tractor sales in the second quarter ended September 30, 2018 were up by 3.3 percent at 21,039 units. The earnings before interest and taxes (EBIT) margins for the quarter were up by 14.7 percent as compared to 13.7 percent in the corresponding period last fiscal.

For the first half of current fiscal tractor volumes up by 20.2 percent at 45,533 units as compared to corresponding period last fiscal. EBIT margin for first half of fiscal were up by 14.4 percent as compared to 12.3 percent in the corresponding period last fiscal.

The company Wednesday reported a profit of Rs 102.7 crore in the quarter ending September 30, 2018 up by 32.4 percent as against a profit of Rs 77.6 crore in the corresponding period last fiscal. Revenue from operations up by 15.4 percent to Rs 1,398.4 crore in quarter ended September 2018 as against Rs 1,211.7 crore in the corresponding period last fiscal.

The net profit of the group for the first half year ending September 2018 was up by 59.4 percent at Rs 223.4 crore as against a profit of Rs 140.2 crore in the corresponding period last fiscal. Revenue from operations up by 22.5 percent to Rs 2,909.6 crore in first half ended September 2018 as against Rs 2,374.8 crore in the corresponding period last fiscal.

Escorts’ Q2 tractor sales up by 3.3% at 21,039 units 2.jpg

Commenting on the results, Nikhil Nanda Chairman and Managing Director, Escorts said, “Escorts today has a very competitive and innovative product portfolio both in domestic and export geographies. We are also building in strategic technology partnerships to bring in the global best for product efficiency and performance to offer best customer experience. Our shared service platforms like crop solutions and technology aggregation are also foraying well in the customer demand and will help mechanising farming nationally and elevate agricultural practices. Our construction equipment portfolio with our recent collaborations also have widened and offer product variability across applications.”

Construction Equipment
Sales of construction equipment went up by 36.9 percent at 1,331 units in quarter ended September 2018 as against 972 units in the corresponding quarter. EBIT margin up at 0.7 percent as compared to 0.5 percent in the corresponding period last fiscal.

For the first half of current fiscal construction equipment’s volumes were up by 44 percent at 2,676 units as compared to corresponding period last fiscal. EBIT margin for first half of fiscal up by 1.6 percent as compared to negative 0.8 percent in corresponding period last fiscal.

Railway Products Division
Revenue of Railway Products Division for the second quarter up by 44.5 percent at Rs 105.9. crore as against Rs 73.3 crore in the corresponding quarter. EBIT margins were up by 20 percent as compared to 16.2 percent in the corresponding period last fiscal.

For first half of current fiscal revenue up by 40 percent at Rs 194 crore as compared to corresponding period last fiscal. EBIT margins for first half of fiscal up at 22.4 percent as compared to 13.4 percent in corresponding period last fiscal.

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