Escorts Kubota Q1 Results: Net profit up 91% YoY to ₹282 crore; revenue jumps 15% | Mint
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Business News/ Companies / Company Results/  Escorts Kubota Q1 Results: Net profit up 91% YoY to 282 crore; revenue jumps 15%
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Escorts Kubota Q1 Results: Net profit up 91% YoY to ₹282 crore; revenue jumps 15%

Escorts Kubota Q1 Results: The revenue from operations jumped 15.5% YoY from ₹2,014.9 crore to ₹2,237.7 crore

Escorts Kubota's PAT rose to all-time high of ₹282 crorePremium
Escorts Kubota's PAT rose to all-time high of 282 crore

Escorts Kubota released their April to June quarter results on Tuesday and reported an all-time high net profit of 282.8 crore which was 91% up from the 147.5 crore reported during the corresponding quarter in the previous fiscal. The revenue of operations of Escorts Kubota jumped 15.5% from 2,014.9 crore in Q1FY23 to 2,327.7 during the period under review.

Sequentially, the company's profit after tax (PAT) grew 52.5% from 185.5 crore during the quarter ending March 2023 and the revenue from operations jumped 6.6% from 2,183 crore during the previous quarter.

Significant growth in EBITDA

The Earnings before interest, taxes, depreciation, and amortization (EBITDA) of Escorts Kubota during Q1 stood at 326.9 crore up 62.6% against 201.6 crore during the corresponding quarter previous fiscal. Sequentially, the EBITDA grew 38.6% from 235.8 crore.

“In the agribusiness, overall sentiments were mixed last quarter as markets with good rainfall and crop prices showed good momentum, and markets with a delayed monsoon had a slightly dampened demand. Going forward, with further advancement of monsoon across the country, adequate reservoir levels, better liquidity, and consumer credit availability, we expect the demand momentum to improve," Chairman and Managing Director Nikhil Nanda said.

“Construction business has done well and is poised well for further growth with government thrust and focus on faster execution of infrastructure projects. The demand for construction machinery is still buoyant and post-monsoon, we expect the momentum to further accelerate. Railway business, with innovative products and expanded portfolio, is well aligned with growing requirements of rail transport both on the domestic and international front and continues to grow," he added.

"In addition to our domestic business growth, we are strategically aligning our efforts to leverage on our export network for further impetus and open new opportunities. The innovative product line expanded coverage and quality excellence remain our top priority. Capacity built-up and process optimization will help us in further growth and create new benchmarks in customer experience," Deputy Managing Director Seiji Fukuoka said.

 

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ABOUT THE AUTHOR
Devesh Kumar
I cover politics, geo-politics, economy, and technology and have keen interest in understanding and analyzing the complex issues that shape our world. I am committed to delivering well-researched, balanced, and thought-provoking stories that provides insights into the key trends and developments.
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Published: 01 Aug 2023, 03:40 PM IST
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