Escorts Kubota Q2 Profit Surges 223 Crore | Construction, Railway Boost
Nov 03, 2023 16:10
Escorts Kubota reports strong Q2 profit of Rs 223 crore, driven by growth in construction and railway equipment sales. Tractor sales decline slightly.
Photograph: Kind courtesy KubotaEscorts
New Delhi, Nov 3 (PTI) Farm and construction equipment manufacturer Escorts Kubota on Friday said its consolidated net profit rose over two-fold to Rs 223 crore for the second quarter ended September, driven by brisk sales in the construction and railway equipment segments.
The company had reported a net profit of Rs 99 crore in the July-September period of the last fiscal.
The total income increased to Rs 2,154 crore in the second quarter of the current fiscal from Rs 1,969 crore in the year-ago period, Escorts Kubota said in a regulatory filing.
The company said tractor sales declined to 22,024 units in the second quarter as against 23,703 units in the corresponding period last year.
On the other hand, construction equipment volume went up 72 per cent to 1,577 units in the September quarter as compared to 917 units in the corresponding period last year.
The company's revenue from railway equipment rose 29 per cent to Rs 234 crore as against Rs 182 crore in the corresponding period last year.
Shares of the company on Friday ended 0.49 per cent up at Rs 3,068.05 apiece on the BSE.
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