Escorts tractor sales up by 7.3 percent

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.