Escorts Ltd has reported profit of ₹120.7 crore in quarter ended June 30, 2018 up by 92.7% as against a profit of ₹62.6 crore in corresponding quarter of the previous fiscal and up by 7.2% as against ₹112.5 crore in sequential quarter.

Revenue from operations up by 29.9% correspondingly to ₹1,511.3 cr. and up by 5.2% Sequentially.

EBIDTA for the quarter correspondingly up by 90.2% at ₹185.5 crore against ₹ 97.5 crore in quarter ending June 2017 and sequentially up by 6.8% against ₹73.8 crore in quarter ending March 2017. EPS reported at ₹10.10 as against ₹5.24 in corresponding quarter.

Speaking on the results, Nikhil Nanda, Managing Director said, "Escorts has seen a positive momentum in the first quarter of this fiscal with a strong performance in June reflecting both farm optimism as well as warm reception for Escorts products with innovative technologies. We are in a continuous process of developing solutions that are intelligent, environmentally safer and providing better value to our customers. Apart from our focus on advanced technologies such as electric and autonomous tractors, we are partnering global IT, engineering and technology driven firms to develop products that will fundamentally change the way in which farming is done. Similarly, our focus on urban smart infrastructure and safe railway transport segments is tapping into technology driven sectors. Our strong focus on cost compression, better margins and strong customer connect driven with innovation, we have embarked on a game changing pathway. With a strong focus on innovation and quality across Agri Machinery, Construction and Railways, the company will continue to strengthen its product offering and leverage the improved market conditions."

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