Business

Escorts Q2 profit up 32 pc at Rs 103 cr

New Delhi, Oct 31 (PTI) Engineering and farm equipment maker Escorts Wednesday posted 32.4 per cent increase in net profit at Rs 102.7 crore for the second quarter ended September 30, 2018.

The company had reported a net profit of Rs 77.6 crore in the corresponding period last fiscal.

Revenue from operations rose 15.4 per cent to Rs 1,398.4 crore in the reported quarter as against Rs 1,211.7 crore in the corresponding period last fiscal, Escorts said in a statement.

“We are also building in strategic technology partnerships to bring in the global best for product efficiency and performance to offer best customer experience,” Escorts Chairman and Managing Director Nikhil Nanda said.

The company’s construction equipment portfolio with recent collaborations has also widened and offers product variability across the applications, he added.

“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,” Nanda said.

Shares of Escorts were trading at Rs 624.05 apiece, up 3.25 per cent on BSE.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Press Trust of India is the largest news agency in India. It is headquartered in New Delhi and is a nonprofit cooperative among more than 500 Indian newspapers and has more than 1,000 full-time employees, as of January 22, 2016.

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