Farm equipment maker VST Tillers Tractors Limited (VST) has reported over three fold growth in its April-June quarter profits on higher sales.
The company reported a net profit of ₹32.99 crore on revenues of ₹246.14 crore for the April-June quarter of 2023-24 against ₹10.05 crore on revenue of ₹235.98 crore in the same period last year.
The company’s earnings before interest, taxes, depreciation & amortization (EBITDA) stood at ₹49.84 crore for Q1 which is 18.86 per cent of revenue. In last year’s Q1, the EBITDA margin was 8.10 per cent. Earnings per share also increased more than three times over the first quarter last fiscal.
In a statement, VST Tillers said it also registered a healthy growth in exports during the quarter. In the domestic market, VST has launched 929 EGT models in this quarter which is receiving a good response from the market, it said.
The VST Tillers scrip gained 3.95 per cent to end at ₹3,128.70 on the BSE on Friday.