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The price hike is due to a steady rise in commodity prices, to offset the impact of the continuing inflation. The increase in prices would vary across models and variants.
Escorts is engaged in the business of manufacturing of agricultural tractors, engines for agricultural tractors, construction, earth moving and material handling equipment, round and flat tubes, heating elements, double acting hydraulic shock absorbers for railways coaches, centre buffer couplers, automobile shock absorbers, telescopic front fork & mcpherson struts, brake block, internal combustion engines and all types of brake used by railways.
On consolidated basis, the company reported 32.3% decline in net profit to Rs 194.19 crore on 2.8% decline in net sales to Rs 1,984 crore in Q3 FY22 over Q3 FY21.
Shares of Escorts were trading 1.08% lower to end at Rs 1530 on BSE.
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