Engineering conglomerate Escorts Ltd said on Thursday its agri machinery division sold 4,860 tractors in July against 5,610 in the same month of last year, marking a decline of 13.4 per cent.
Domestic tractor sales in July 2019 were at 4,505 tractors against 5,483 tractors in July 2018, registering a decline of 17.8 per cent year-on-year.
On the other hand, export sales rose a whopping 179.5 per cent to 355 units. From October 2018 onwards, sales to Nepal and Bhutan have been included in exports, the company said.
Last week, Escorts India said it sold 21,051 tractors from April to June, down 14 per cent in comparison to sales in the June quarter of last fiscal.
It also reported a decline of 27.6 per cent in its profit after tax during the quarter ended June 30. The consolidated net profit slipped to Rs 87.66 crore in comparison to Rs 121 crore during the corresponding quarter of last fiscal.
Revenue from operations slipped 5.8 per cent to Rs 1,440 crore in comparison to Rs 1,529 crore in Q1 FY19, said the company.