Escorts gains 4% on robust October sales data

The company’s export jumped 33.8 percent at 273 tractors versus 204 tractors.

escorts

Share price of Escorts gained more than 4 percent intraday Thursday on the back of robust October sales numbers.

The agri machinery segment (EAM) of the company in October 2018 sold 13,140 tractors registering a growth of 28.8 percent against 10,205 tractors sold in October 2017.

Its domestic tractor sales in October 2018 was at 12,867 tractors, up 28.7 percent against 10,001 tractors in October 2017.

The company’s export jumped 33.8 percent at 273 tractors versus 204 tractors.

In the month of October sales to Nepal, Bhutan has been included in export, which was earlier reported in domestic.

The company’s Q2 net profit was up 32.4 percent at Rs 102 crore against Rs 77.5 crore. Revenue rose 15.7 percent at Rs 1,398.3 crore against Rs 1,211.7 crore, YoY.

Operating profit or EBITDA was up 11.8 percent at Rs 157.5 crore, while margin was at 11.3 percent.

At 09:36 hrs Escorts was quoting at Rs 640.75, up Rs 14.85, or 2.37 percent on the BSE.

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