Escorts Q3 net profit dips 43% to Rs20.49 crore
Standalone total income from operations of the company declines to `888.08 crore
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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