Escorts net up 33.5%

Posts Rs 47 crore profit; turnover increases 9.3% to Rs 1,051 crore

Farm equipment maker Escorts on Thursday posted an increase of 33.5 per cent in net profit to Rs 47 crore for the June quarter, against Rs 35 crore in the year-ago period.

Turnover increased 9.3 per cent to Rs 1,051 crore against Rs 961 crore, Escorts said.

"The last quarter has shown a welcome upward trend in market demand. Sustaining it by the government taking advantage of a good monsoon would be important for the revival of the overall farm sector," Chairman Rajan Nanda said.