Escorts Ltd reported a profit of Rs 31.3 crore in the quarter ending September 30, 2016 as against a profit of Rs 9.8 crore in the corresponding quarter in the previous fiscal. The net profit for the half year ending September 2016 was up by 74 per cent at Rs 78.2 crore as against Rs 45 crore in the corresponding period last year. Tractor sales were up by 35.4 per cent at 15,482 units during the second quarter of the current fiscal. Sales of construction equipment went up by 18.3 per cent at 724 units as against 612 units in the corresponding quarter.
Turnover for the quarter was up by 21.7 per cent to Rs 995.3 crore as against the quarter ended September 2015. Turnover for the first half of fiscal 2017 stood at Rs 2,065 crore, up by 14.8 per cent as against Rs 1,798 crore in the half year ended September 2015. Material cost was down by 105 bps at 68.06 per cent as against 69.1 per cent in the corresponding period. In the first half, material costs were down by 183 bps at 68.3 per cent as against 70.1 per cent in last year April-September 2015.
EBIDTA for the quarter was up by 139.9 per cent at Rs 62.5 crore as against Rs 26 crore in the corresponding quarter. EBIDTA for the First half was up by 79.7 per cent at Rs 150.2 crore as against Rs 83.6 crore in the corresponding period last fiscal.