Escorts Kubota reports 9% jump in May sales, sells 9,167 tractor units
Escorts Kubota has announced its retail sale numbers for May, 2023. The company sold 9,167 units of tractors last month against 8,421 tractors in May, 2022.
PremiumEscorts Kubota Ltd has announced a 9% increase in vehicle sales for the month of May. The company has sold 9,167 units of tractors in the past month - its highest ever May sales. It sold 8,421 tractors in May, 2022.
Domestic tractor sales in May 2023 were at 8,704 tractors registering a growth of 13.5 percent against 7,667 tractors sold in May 2022, the company said.
Similarly, export tractor sales in May 2023 were at 463 compared to 754 tractors sold in May last year.
“Overall, the macroeconomic factors and farmer sentiments remain positive, resulting in a positive sales trend across most geographies. Going forward, we expect the current momentum to continue in the near term led by normal rainfall forecast, adequate reservoir levels, better liquidity and consumer credit availability," Escorts Kubota said in a press statement.
Last month, the company reported 13.4% on year rise in its consolidated net profit for the quarter ended March 2023. The Q4FY23 consolidated net profit stood at ₹216.5 crore as compared to ₹190.0 crore in Q4FY22. Following the release of the Q4 number, Escorts Kubota share price on NSE ended down 1.5% at ₹2,047.55 apiece.
Consolidated revenue from operations of the company for Q4FY23 was ₹2,214.5 crores, up 17.4% from ₹1,886.6 crore in the same quarter last year. EBIDTA was ₹233.2 crore for the quarter that ended in March 2023 as compared to ₹248.2 crore for the same quarter the year before.
"Exciting news! Mint is now on WhatsApp Channels 🚀 Subscribe today by clicking the link and stay updated with the latest financial insights!" Click here!
