Escorts Q2 net profit flat at Rs 101.5 cr

Engineering and farm equipment maker Escorts on Saturday reported a consolidated net profit of Rs 101.5 crore for the second quarter ended September 2019. The company had posted a net profit of Rs 101.2 crore for the July-September period of 2018-19.

Total income, however, declined to Rs 1,355.31 crore as compared to Rs 1,438.48 crore in the same period of the previous fiscal, Escorts Ltd said in a regulatory filing. "Our continuous cost optimisation initiatives will offer us additional leverage for stronger revenue, profitability and increases share of market," Escorts Chairman and Managing Director Nikhil Nanda said.

The company sold 19,750 tractors during the second quarter, down 6.1 per cent from the same period of the previous fiscal. Escorts also retailed 945 units of construction equipment during the quarter under review, down 29 per cent from the year-ago period.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)