However, revenue from operations declined 4.6% year on year to Rs 2,082.47 crore in the quarter ended 31 March 2024.

Profit before tax stood at Rs 323.72 crore in the March quarter, up 31.09% from Rs 246.95 crore reported in the same period a year ago.

During the quarter, EBITDA grew 12.8% to Rs 265.9 crore as against Rs 235.8 crore recorded in Q4 FY23. EBITDA margin improved to 12.8% in Q4 FY24 as compared to 10.8% registered in the corresponding quarter last year.

In Escorts Agri Machinery segment, tractor volumes stood at 21,253 units, down 14.18% from 24,765 units in Q4 FY23. The segment revenue de-grew 10.71% to Rs 1,390.7 crore in the quarter ended March 2024 as against Rs 1,557.5 crore in corresponding period last year. EBIT margin was up by 123 bps to 11.2% in Q4 FY24 as against 9.9% in Q4 FY23.

Construction Equipment sales were up by 17.5% to 1,798 units as against 1,530 units in corresponding period last year. During the quarter, the revenue went up by 23.8% YoY to Rs 457.2 crore. EBIT margin was up by 264 bps to 10.7% in Q4 FY24 as against 8.1% in Q4 FY23.

The company's revenue for railways product division was at Rs 213.4 crore, registering a decline of 10.03% YoY. EBIT margin improved to 16.9% in quarter ended March 2024 as against 14% in corresponding period last year.

On full year basis, Escorts Kubota's net profit soared 70.87% to Rs 1,037.15 crore on 5.17% increase in revenue to Rs 8,776.74 crore in FY24 over FY23.

Meanwhile, the company’s board has declared a dividend of Rs 18 per equity share for FY24, subject to the approval of the shareholders.

Escorts Kubota is primarily engaged in the business of manufacturing of agricultural tractors, engines for agricultural tractors, construction, earth moving and material handling quipment, round and flat tubes, heating elements, double acting hydraulics.

The scrip closed 2.76% lower at Rs 3,443 on the BSE.