“Overall festive demand has been good barring few states where demand was marginally impacted due to scanty and unseasonal rainfall. Keeping in view the fact that domestic tractor industry has been almost at its record levels and given generally positive macroeconomic factors, we expect current momentum to continue in balance of the year too,” the company said in regulatory filing.

The company further informed that the construction equipment business division in November 2023 sold 486 machines, registering a growth of 20.9% as compared with 402 machines sold in November 2022.

The company said that current growth momentum is expected to continue for the remaining part of the current fiscal, led by faster execution of construction projects across the nation.

Escorts Kubota is an engineering conglomerate. The company has diversified business across three different verticals viz., agri machinery, construction equipment & railway equipment division.

The tractor maker's standalone net profit zoomed to Rs 235 crore in Q2 FY24 as compared with Rs 87.66 crore posted in Q2 FY23. Revenue from operations rose 8.64% YoY to Rs 2,046.18 crore in the quarter ended 30 September 2023.