Escorts tractor sales up by 7.3 percent

In the June quarter, the automaker posted a 20.1 percent dip in net profit.

Autocar Pro News Desk By Autocar Pro News Desk calendar 01 Sep 2022 Views icon4580 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp

On the back of festive sales kicking in from the end of August, Escorts Kubota's total tractor sales for August 2022 were up 7.3 percent with total sales at 6,111 units as against 5,693 units sold in August 2021.

The company in a regulatory filing has estimated that the festive season will act as a positive trigger for its business with a renewed September stretching itself till November 2022. The Diwali festivities will act as a strong driving force for sales as overall macroeconomic factors and farmer sentiment remain positive.

In the June quarter, the automaker posted a 20.1 percent dip in net profit and 110 basis points decline in margins due to overall input price hikes and inflationary pressures at Rs147.5 crore despite a 20.4 percent rise in revenues to Rs2,014.9 cr.

RELATED ARTICLES
Pre-owned luxury car market picks up pace, Haryana’s Luxury Ride to expand into metro cities

auther Autocar Pro News Desk calendar28 Mar 2023

Karnal-based used luxury car start-up Luxury Ride to open dealerships in Mumbai and Bengaluru, aims to double its sales ...

Revolt Motors expands retail network to 50, targets 150 by June 2023

auther Autocar Pro News Desk calendar27 Mar 2023

Electric motorcycle OEM looks to speedily increase its reach across India; opens new showrooms in Raipur, Vapi, Bahadurg...

Saietta eyes e-drive exports from India to ASEAN, European markets

auther Autocar Pro News Desk calendar26 Mar 2023

UK-based e-drive system supplier, which is bullish on huge potential for its localised products in India, aims to also t...