Escorts Limited today reported a profit of Rs.77.6 crore in the quarter ending September 30, 2017 as against a profit of Rs. 37.7 crore in the corresponding quarter in the previous fiscal. The net profit for the first half year ending September 2017 was up by 79.2 percent at Rs. 140.2 crore as against Rs. 78.2 crore in the corresponding period last year.
Speaking on the results, Chairman Rajan Nanda said, “Sustained economic focus and support to farm mechanisation, agro innovation and smart city infrastructure is a strong push to the industry and market demand. Our continued investments in technology, channel and product mix will continue to bring enhanced process efficiencies and business productivity.”
Says Nikhil Nanda, Managing Director, “Escorts today has a very competitive and innovative product portfolio powered by our frugal engineering and global best technology practices. Our recent launch of India’s first electric tractor concept is the testimony to our innovation and future readiness. With new products across businesses Escorts is equipped to tap the emerging opportunities across agriculture, infrastructure and railway segments both for domestic and global demand.”
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