Faridabad-based Escorts Kubota Ltd reported a standalone net profit of Rs 277.3 crore for the quarter ending December 31, 2023, marking a 48.8% increase compared to a net profit of Rs 186.4 crore in the corresponding period last year. The company disclosed in a regulatory filing that operating revenues for the quarter reached Rs 2320.4 crore, rising by 2.5% from Rs 2263.7 crore in the same period the previous year.
According to the company, its EBITDA for the quarter amounted to Rs 312.7 crore, showing a notable 64.3% increase from Rs 190.3 crore during the comparable period. This growth was attributed to softer commodity prices, enhanced price realization, and effective cost control measures.
Tractor volume data for the quarter ending December 2023 showed 25,999 units sold, down from 28,025 units in the corresponding period of the previous year. Segment revenues for tractors decreased by 2.9% to Rs 1658.3 crore compared to Rs 1708 crore in the corresponding period last year.
In the construction equipment segment, the company’s volumes surged by 48.9% to 1800 units, up from 1209 units in the same period last year. Segment revenues also experienced a significant increase, rising by 49.4% to a record quarterly revenue of Rs 457.2 crore, compared to Rs 306.1 crore in the corresponding period last year.
