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Automotive Product Finder Magazine | Escorts Limited shows Rs 87.5 Cr profit in Q1
Escorts Limited shows Rs 87.5 Cr profit in Q1
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Escorts Limited today reported net profit of Rs 87.5 crore in quarter ended June 30, 2019 as against a profit of Rs 120.7 crore in corresponding quarter of the previous fiscal and as against Rs 121.4 crore in sequential quarter.
Revenue from operations came at Rs 1,423 crores as against Rs 1,511.3 cores in corresponding quarter. EBIDTA for the quarter ended June 30, 2019 was at Rs 142.4 crore against Rs 185.5 crore in quarter ending June 2018. EPS reported at Rs 7.32 as against Rs 10.10 in corresponding quarter.
Nikhil Nanda, Chairman and Managing Director, said, “Escorts has been treading aligned to expectations across Agri Machinery, Construction and Railway businesses. Tractor industry has been slowing down since last few months, thus our endeavor is to keep revenue and profitability intact with strategic initiatives and elimination of waste and inefficiencies."
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