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NEW DELHI: On the back of higher tractor sales, Escorts Ltd has seen an increase of 24.6 per cent in its net sales to Rs 256.50 crore in the first quarter of the fiscal from Rs 205.80 crore in the same period last year.

Revenue from the agri-machinery division rose to Rs 219.42 crore in the quarter (Rs 161.56 crore). More significantly, the agri-machinery division saw profits of Rs 5.46 crore in the first quarter of the year, as opposed to a loss of Rs 7.44 crore in the same period last year.

The overall profitability of the company, however, was lower in the period. Escort's net loss grew to Rs 21.80 crore in the first quarter of 2004-05 (net loss of Rs 16 crore). The increase in net loss is on account of higher consumption of raw materials as well as the auto ancillaries division recording a loss.

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