Escorts Ltd Q3 standalone profit up by 83.4%
ECONOMY & POLICY

Escorts Ltd Q3 standalone profit up by 83.4%

Escorts Limited recently reported their highest ever standalone quarterly profit of Rs 280.7 crore in the quarter that ended in December 2020, up by 83.4% as against a profit of Rs 153.1 crore in the corresponding period last year.

Revenue from operations at Rs 2,017.4 crore in the quarter ended December 2020 went up by 23.5% as against Rs 1,633.4 crore in the last year. EPS reported at Rs 21.28 was up by 66.1% as against Rs 12.81 in the corresponding quarter and up by 20.1% as against Rs 17.72 in the sequential quarter.

Key highlights:

  • Tractor volumes up by 25.7% at 31,562 units
  • Construction Equipment volumes up by 20.1 % at 1,254 units
  • EBIDTA up by 71.5% at Rs 364.1 crore
  • Margin expands by 505 bps to 18.0%
  • PAT up by 83.4% to Rs 280.7 crore, quarterly highest ever
  • Margin expands by 454 bps to 13.9%
  • EPS at Rs 21.28 up by 66.1%

Escorts construction equipment sales volume for the quarter ended December 2020 were up by 20.1% at 1,254 machines as against 1,044 machines in the corresponding period last fiscal. Tractor volumes were up by 25.7% at 31,562 units in the quarter ended December 2020 as against 25,109 units in the corresponding period last fiscal.

Revenue from operations at Rs 4,718.8 crore in nine months as of December 2020 was up by 7.7% as against Rs 4,380.3 crore in the corresponding period last fiscal. Standalone net profit for the nine months as of December 2020 at Rs 602.7 crore was up by 74.6% as against a profit of Rs 345.1 crore in the corresponding period last fiscal.

At consolidated level revenue from operations at Rs 4,785.7 crores in nine months ended December 2020 was up by 8.2% as against Rs 4,424.4 cores in nine months ended December 2019. Consolidated net profit recorded at Rs 606.2 crore in nine months ended December 2020 was up by 76.2%, as against a profit of Rs 344.0 crore in the corresponding period last fiscal.

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