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Escorts Kubota has announced that its Agri Machinery Business Division will implement a price increase on its range of tractors, effective from 16 September 2023.
The price hike will vary across different models and variants as well as geographical locations.
The company sold 5,593 tractors in August 2023, up 8.5% as against 6,111 tractors sold in August 2022.
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 surged 91.8% to Rs 282.81 crore on 15.53% rise in revenue from operations to Rs 2,327.74 crore in Q1 FY24 over Q1 FY23.
The scrip declined 3.16% to Rs 3036.45 on 4 September 2023.
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