Moneycontrol
Last Updated : May 17, 2018 05:09 PM IST | Source: Moneycontrol.com

Escorts fires on all cylinders, Q4 profit surges 89%, operational nos strong

Operating profit during the quarter more than doubled to Rs 173.7 crore compared to Rs 74.3 crore and margin improved 480 basis points to 12.1 percent year-on-year.

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Farm equipment maker Escorts has reported stellar earnings growth for the March quarter as it has been firing on all cylinders.

Net profit during the quarter grew by 89 percent year-on-year to Rs 112.5 crore compared to Rs 59.5 crore despite nearly 3-fold increase in tax cost.

Revenue from operations increased 40.5 percent YoY to Rs 1,436.1 crore for the quarter ended March 2018.

Operating profit during the quarter more than doubled to Rs 173.7 crore compared to Rs 74.3 crore and margin improved 480 basis points to 12.1 percent year-on-year.

Agri-machinery products revenue for the March quarter surged 36.4 percent year-on-year to Rs 1,094 crore with its earnings before interest & tax more than doubled to Rs 165.7 crore from Rs 80.8 crore YoY.

Construction equipments business grew by 44.5 percent to Rs 266 crore with EBIT rising 252 percent to Rs 13.58 crore compared to year-ago while

Escorts said the industry is expected to grow by 15-18 percent in Q1FY19.

At 13:58 hours IST, the stock price was quoting at Rs 967.35, up Rs 10.60, or 1.11 percent on the BSE.
First Published on May 17, 2018 02:18 pm
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