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Profit for Q1 grows to 62.6 crore
Q1 EBIDTA up 8.4% at 97.5 crore
Tractor volumes up 7.3% to 17,561 units
New Delhi, July 28, 2017: Escorts Limited today reported an increase in net profit by 33.4% at 62.6 crore in the quarter ending June 2017 against 47 crore in quarter ended June 2016 and up by 5.3% as against the sequential quarter.
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Q1 FY 2017-18 HIGHLIGHTS
- Turnover increased by 11% to 1,163.2 crore correspondingly
- Tractor volumes at 17,561 units, with growth of 7.3% correspondingly
- Construction Equipment volume correspondingly up by 20% at 886
- EBIDTA margins sequentially up by 126 bps
- PAT reported at 62.6 crore up by 33.4% correspondingly
- EPS at 5.24 as against 3.94 last year.
Turnover increased sequentially by 11.4% to 1,163.2 crore in quarter ending June 2017 against 1,043.9 crore in quarter ended March 2017 and correspondingly up by 11% against 1,048.0 crore in quarter ended June 2016.
EBIDTA for the quarter correspondingly up by 8.4% at 97.5 crore against 90.0 crore in quarter ending June 2016 and sequentially up by 31.2% against 74.4 crore in quarter ending March 2017. EPS reported at 5.24 as against 3.94 in the previous year.
Speaking on the results, Chairman Mr. Rajan Nanda said, Government’s renewed focus on farm mechanisation and smart city infrastructure has provided positive momentum to the industry, resulting in to an upward trend in market demand. Escorts will continue investing in technology, efficient distribution and product mix for enhanced agility, dynamism and customer responsiveness.
Says Mr. Nikhil Nanda, Managing Director, “Escorts today is equipped with future readiness to tap the emerging opportunities across agriculture, infrastructure and railway segments. Our focus on enhanced customer reach and technology upgrades will build our capability and competence to cater to growing domestic and global demand.
Credits : Escorts
