Companies

Escorts Q3 net profit up 52% to ₹140 crore

Our Bureau New Delhi | Updated on January 28, 2019 Published on January 28, 2019

Nikhil Nanda, Chairman and Managing Director, Escorts

Agri-machinery, construction and railway equipments manufacturer Escorts reported a profit of ₹140 crore in the third quarter ending December 31, up by 52 per cent as against ₹92 crore in the corresponding period last fiscal.

Revenue from operations rose by 37 per cent year-on-year to ₹1,655 crore in the October-December quarter against ₹1,205 crore in the corresponding period last fiscal. “Escorts today is driving technology led growth across businesses and endeavours to create unique engineering solutions for mechanised agriculture and strengthened infrastructure. We are continuously investing in new technologies, product mix and expanded distribution network for significant domestic growth and global reach,” Nikhil Nanda, Chairman and Managing Director, Escorts, said.

“With technology collaborations and strategic joint ventures with global leaders such as Kubota, Tadano and others, Escorts aims to manufacture innovative products for emerging economies and offer unique solutions for domestic mechanised farming, smart construction and safe modern railways,” he added.

Published on January 28, 2019
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