Escorts Kubota reports standalone net profit of Rs 277.3 crore for quarter ending December 2023

Faridabad-based Escorts Kubota Ltd reported a standalone net profit of Rs 277.3 crore in the quarter ending December 31, 2023, up by 48.8% as against a net profit of Rs 186.4 crore in the corresponding period last year. The operating revenues for the quarter came at Rs 2320.4 crore, up by 2.5% as against Rs 2263.7 crore during the similar period the previous year, the company said in a regulatory filing.

The company's EBITDA for the quarter came at Rs 312.7 crore, up by 64.3% as against Rs 190.3 crore during the comparable period, led by softening in commodity prices, improved price realization and effective cost control measures, the company added.

As per the available data, the company's tractor volume during the quarter ended December 2023 came to 25,999 units, as against 28,025 units in the corresponding period of the previous year. The segment revenues went down by 2.9% to Rs 1658.3 crore as against Rs 1708 crore in the corresponding last year.

In the construction equipment segment, the company's volumes went up by 48.9% to 1800 units, compared to 1209 units during the comparable period of the last year. Segment revenues went by 49.4% to the highest ever quarterly revenue of Rs 457.2 crore, as against Rs 306.1 crore in the comparable period last year.