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Business News/ Companies / Escorts Q3 net profit dips 43% to Rs20.49 crore
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Escorts Q3 net profit dips 43% to Rs20.49 crore

Standalone total income from operations of the company declines to `888.08 crore

Shares of Escorts Ltd closed 2.31% down at `133.10 per scrip on BSE.Premium
Shares of Escorts Ltd closed 2.31% down at `133.10 per scrip on BSE.

New Delhi: Engineering and farm equipment major Escorts on Tuesday reported a 42.57% dip in its standalone net profit at 20.49 crore for the third quarter ended 31 December 2015.

The company had posted a net profit of 35.68 crore for the corresponding period of the previous fiscal, Escorts said in a BSE filing.

Standalone total income from operations of the company also declined to 888.08 crore for the quarter under consideration as against 1,046.37 crore for the same period a year ago.

Commenting on the results, Escorts chairman Rajan Nanda said: “Despite a better quarter than the preceding one, it is clear that the tractor industry as a whole continues to suffer from the whiplash of the poor and uneven monsoon."

Shares of Escorts Ltd closed 2.31% down at 133.10 per scrip on BSE.

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Published: 02 Feb 2016, 11:17 PM IST
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