Escorts Limited today reported a profit of ₹ 102.7 crore in the quarter ending September 30, 2018 up by 32.4 percent as against a profit of ₹ 77.6 crore in the corresponding period last fiscal. Revenue from operations up by 15.4% to ₹ 1,398.4 crore in quarter ended September 2018 as against ₹ 1,211.7 crore in the corresponding period last fiscal.
The net profit for the first half year ending September 2018 was up by 59.4 percent at ₹ 223.4 crore in half year ended September 30, 2018 as against a profit of ₹ 140.2 crore in the corresponding period last fiscal. Revenue from operations up by 22.5% to ₹ 2,909.6 crore in first half ended September 2018 as against ₹ 2,374.8 crore in the corresponding period last fiscal.
Speaking on the results, Chairman and managing Director Nikhil Nanda said, “Escorts today has a very competitive and innovative product portfolio both in domestic and Export geographies. We are also building in strategic technology partnerships to bring in the global best for product efficiency and performance to offer best customer experience. Our shared service platforms like Crop Solutions and technology aggregation are also foraying well in the customer demand and will help mechanising farming nationally and elevate agricultural practices. Our construction equipment portfolio with our recent collaborations also have widened and offer product variability across applications. Railways business has a strong order pipeline and is constantly developing technology for sector comfort and safety. We are completely aligned to the national focus on farming mechanisation and developing urban smart infrastructure.”
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