Sunday, October 2, 2022

Escorts Ltd Q4 results: Net profit drops 25.5%, final dividend announced


Escorts Restricted has reported a 25.5 per cent drop in its standalone profit for the quarter ended March 31, 2022. Standing profit for January-March quarter stood at Rs 202.2 crore as in opposition to Rs 271.3 crore within the corresponding quarter final 12 months. 

Escorts Restricted in the present day additionally reported that its web profit for FY22 dropped by 12.4 per cent at Rs 765.6 as in opposition to a profit of~ 87 4 .1 crore within the earlier 12 months 

Income from operations was at Rs 7,152.7 crore within the 12 months ended March 2022 as in opposition to Rs 6,929.3 crore within the corresponding interval final 12 months. For the quarter ended March 2022, income from operations was at Rs 1,861.4 crore as in opposition to Rs 2,210.5 crore within the quarter ended March 2021. 

At a consolidated degree, income from operations was at Rs 7,238.5 crore throughout FY22 as in opposition to Rs 7,014.4 crore within the 12 months ended March 2021. Consolidated web profit recorded at ~ 735.6 crore within the 12 months ended March 2022 was as in opposition to a profit of Rs 871.6 crore within the corresponding interval final 12 months.

The Board of Administrators has beneficial a final dividend of 70 per cent i.e., a dividend of Rs 7 per share of face worth of Rs 10 for the monetary 12 months 2021-22. 

Talking on the outcomes, Chairman and Managing Director, Nikhil Nanda stated, “Agri sector is seeing some constructive tailwinds. April trade development of 41 % is a giant booster of confidence. With prediction of regular monsoon and excellent news on crop costs and manufacturing, we hope this sector will proceed to flourish.”

“Development & Railway sectors have additionally proven indicators of enchancment. With Authorities spending focus in these sectors, the scenario shall solely enhance from right here. Continued inflation is a giant explanation for fear, each when it comes to suppressing potential demand in addition to for ecosystem profitability,” Nada added. 

For the 12 months ended March 2022, tractor volumes at 94,228 items went down by 11.7 per cent as in comparison with 1,06,741 items within the corresponding interval final fiscal. For the quarter ended March 2022, tractor volumes at 21,895 items went down by 13.5 per cent sequentially and had been down by 32.8 per cent as in opposition to 32,588 items within the corresponding quarter. 

Whereas building tools gross sales at 4,117 items had been up by 5.2 per cent in FY22 in comparison with 3,913 items within the corresponding interval final fiscal. For the quarter ended March 2022, building tools gross sales at 1,286 items went up by 11.7 per cent sequentially however had been down by 19.8 per cent as in opposition to 1,604 items within the corresponding quarter earlier 12 months

In FY22, the railway product division achieved its increased ever yearly income at Rs 636.2 crore, it grew by 32.8 per cent in opposition to Rs 479.0 crore within the final fiscal.

Additionally learn: Bandhan Bank Q4 results: Net profit jumps 1747% to Rs 1,902.3 cr

Additionally learn: HAL Q4 results: Net profit jumps 91% to Rs 3,102 cr, revenue up 6%

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