Escorts Ltd has reported consolidated profit of ₹ 346.6 crore in year ended March 31, 2018 up by 165 percent as against a profit of ₹ 130.8 crore in the previous fiscal and Standalone profit of ₹ 344.7 crore in year ended March 31, 2018 up by 114.9 percent as against a profit of ₹ 160.4 crore in the previous fiscal.
Profit for quarter ended March 2018 was up by 89.2 percent at ₹ 112.5 crore as against ₹ 59.5 crore in the corresponding quarter last year. The Board of Directors recommended a dividend of ₹ 2.0/- per share of face value ₹ 10/-, for 2017-18 as against the dividend of ₹ 1.5/- per share of face value of ₹ 10/- in 2016-17.
Speaking on the results, Chairman Rajan Nanda said, "Growing and much deserved focus on rural upliftment, farm mechanisation & agricultural infrastructure and urban smart ecosystem reflects in our growth across businesses. Government's vision for doubling farmer's income by 2022 & agriculture and adequate infrastructure including railway & metro network policies will further accelerate economic growth and opportunities. Escorts is well prepared and will actively contribute in national development and community welfare."
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