Escorts tractor sales up by 7.3 percent
In the June quarter, the automaker posted a 20.1 percent dip in net profit.
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
Bajaj Auto launches new Chetak 3503 at Rs 110,000
The Chetak 3503, with a claimed range of 155km, 63kph top speed and a slower charging time than its 35 Series siblings, ...
Hyundai walks the eco talk with biogas plant, material recovery plant in Gurugram
Operational since October 2022, the facility targets sustainable waste management in Gurugram by undertaking scientific ...
Rajiv Bajaj reappointed MD and CEO of Bajaj Auto for five-year term
Bajaj Auto’s Board of Directors has approved the re-appointment of Rajiv Bajaj as the company’s MD and CEO for another f...