Escorts Q3 net jumps over two-fold to Rs 45.84 cr

Jul 19, 2010 |

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New Delhi, July 19: Farm and construction equipment major Escorts Ltd today reported over two-fold jump in net profit for the quarter ended June 30 at Rs 45.84 crore against Rs 22.2 crore in the year-ago period.

Net sales rose to Rs 806 crore, a 38.5 per cent increase from Rs 582 crore in the previous year, the company said in a statement.

Escorts Ltd follows an October-September fiscal year.

Commenting on the results, Escorts Ltd Chairman and Managing Director Rajan Nanda said: "Our liquidity has improved, interest costs have fallen substantially and debt:equity ratio is attractive."

The company is consistently enhancing shareholder value through growth initiatives, fiscal prudence and innovative strategies, he added.

During the quarter, Escorts sold 17,917 units of tractors, a 39 per cent increase over 12,889 units in the same quarter last fiscal.

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