Profit before exceptional items and tax stood at Rs 372.25 crore for the third quarter of FY24, up 54.20% YoY.

During the quarter, EBITDA grew 64.31% to Rs 312.7 crore from Rs 190.3 crore reported in Q3 FY23. EBITDA margin improved to 13.5% in Q3 FY24 as compared with 8.4% registered in the same period last year.

In Escorts Agri Machinery segment, tractor volumes stood at 25,999 units, down 7.22% from 28,025 units in the corresponding period last year. The segment revenue de-grew 2.9% to Rs 1,658.3 crore in the quarter ended December 2023 as against Rs 1,708.0 crore in corresponding period last year. EBIT margin was up by 550 bps to 13.8% as against 8.3% in corresponding period last year, led by effective cost control measures, better realization and softening in commodity prices.

Construction Equipment sales were up by 48.9% to 1,800 units as against 1,209 units in corresponding period last year. Segment revenues went up by 49.4% to highest ever quarterly revenue of Rs 457.2 crore as against Rs 306.1 crore in corresponding period last year. EBIT margin grew to 8.3% as against 2.2% in same quarter previous year, led by higher volume, better product mix and softening in commodity prices.

The company's revenue for railways product segment was at Rs 205 crore, registering a decline of 17.76% YoY. EBIT margin improved to 18.4% in quarter ended December 2023 as against 13.1% in corresponding period last year, led by better product mix. Order book for the division stood at more than Rs 900 crore at the end of December 2023.

On consolidated basis, the tractor maker's consolidated net profit soared 57.08% to Rs 284.01 crore on 2.19% increase in revenue from operations to Rs 2,341.62 crore in Q3 FY24 over Q3 FY23.

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

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