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Faridabad (Haryana)-based tractor, railway and construction equipment manufacturer Escorts Kubota on Thursday reported a consolidated net profit of ₹284 crore for the third quarter, up 57 per cent year on year compared with 181 crore in the corresponding period last year.
Consolidated revenue during the quarter in review grew 2 per centto ₹2,341.62 crore (₹2,291.35 crore).
However, the company’s sales declined 7 per cent to 25,999 units during the third quarter (28,025 units). In the nine-month period, the sales declined 5 per cent to 74,605 units (78,525 units).
- Also read: 3M India reports profit of ₹135 crore in Q3
In this period, the company’s consolidated net profit jumped 90 per cent to ₹797.19 crore (₹420.19 crore). Consolidated revenue for the period also rose 9 per cent to ₹6,756 crore (₹6,214.21 crore).
Shares of Escorts Kubota closed at ₹2,929.75 apiece on the BSE on Thursday, down 0.01 per cent.
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