BackTractor business helps Escorts post 61% rise in Q4 profits
Profits rise to `37.5 crore in the March quarter from the year ago
PremiumMumbai: Escorts Ltd posted a 61% increase in profit to ₹ 37.5 crore in the March quarter from the year ago on the back of its tractor business. The company’s financial year runs from October to September.
Net sales fell 2.8% to ₹ 997 crore, dragged down by the construction equipment business that saw revenue contract to ₹ 167 crore from ₹ 245 crore. The construction equipment business was hit by the slowdown in infrastructure projects, said Nikhil Nanda, joint managing director.
Shares rose 0.08% to ₹ 65.45 on the BSE. The benchmark Sensex closed at 19,939 points, down 0.26%.
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