Escorts standalone profit up by 40.7%

Speaking on the results, Nikhil Nanda, Chairman, said, ?Escorts is committed to provide state-of-the-art technology and unique engineering solutions for mechanised and innovative agriculture solutions, well supported infrastructure and safe rail transport. We will continue to bring in new technologies with a blend of frugal engineering and global technology collaborations for domestic and global markets, enabled by strong product mix and expanded distribution network. Our emerging businesses like crop solutions rental services, aggregation of tractors for wider usage will provide strong impetus and farmer access to modern agriculture practices.?

Tractor sales at 96,412 units were up by 19.9 per cent as against 80,417 units in the previous fiscal. For the fourth quarter ended March 2019, tractor volume at 25,136 tractors was up by 6.7 per cent. Construction equipment sales at 5,544 units were up by 23.6 per cent as against 4,486 units in the previous fiscal. For the fourth quarter ended March 2019, construction equipment sales volume at 1,455 was down by 5.6 per cent. The Railway division sales at Rs 3.941 billion were up by 37.5 per cent as against Rs 2.866 billion in the previous fiscal. For the fourth quarter ended March 2019, sales at Rs 1.035 billion were up by 36.1 per cent. The current order book is more than Rs 4.90 billion and will be executed in the next 14-15 months, according to the company.