Escorts Q4 net profit increases two fold at Rs 43.63 cr

Engineering conglomerate Escorts today reported over two fold jump in net profit at Rs 43.63 crore for the fourth quarter ended September 31, 2013. The company had posted a net profit of Rs 18.88 crore for the corresponding period previous fiscal.

Also Read: Escorts eyes 13-14% growth, says phenomenal Sept sales rare

The company follows a October-September fiscal. Net sales of the company stood at Rs 939.96 crore for the quarter under consideration as against Rs 818.73 crore for the same period year ago. Commenting on the result Escorts Chairman and Managing Director Rajan Nanda said: "New products, new markets, focus on consumer preferences and profitability have been the keystone of this fiscal. We have strengthen our presence in existing and new markets, entered new segments and relooked at the way we did the business."

Escorts for the year ended at September 2013 also increased its net profit of Rs 167.55 crore as against Rs 69.60 crore in the year-ago period. Net sales of the company also increased to Rs 4,135.99 crore as against Rs 3,877.72 crore in the same period last year.

Shares of Escorts Ltd today closed at Rs 99.05 apiece on the BSE, up 2.48 percent from their previous close.