October sales for Escorts were above estimates while Q2 earnings met street estimates. In an interview to CNBC-TV18, Bharat Madan, CFO of Escorts shared his views and readings on the same.
The industry grew by roughly 21 percent in first half of the year and our growth was about 17-18 percent but cumulative till October, we are mildly better than the industry. We expect H2 to show slightly slow growth but hope to see demand coming back in Q4 which can again be 15-18 percent growth. For the full year FY18, we still maintain our guidance of 13-14 percent growth to the industry, he said.
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