Escorts fell 2.37% to Rs 641.65 after consolidated net profit rose 7.7% to Rs 109.34 crore on 5.6% decline in net sales to Rs 1,333.77 crore in Q2 September 2019 over Q2 September 2018.
Commenting on the results, Nikhil Nanda, the chairman and managing director of Escorts, stated that, "Our new products across business lines, investments in distribution for wider reach and enhanced customer experience with technology upgrades has helped us foray strong in current industrial pace. Our continuous cost optimization initiatives will offer us additional leverage for stronger revenue, profitability and increased market share. We will continue to invest in R&D to create value for our customers across domestic and export geographies."Escorts offers agricultural tractors and construction equipment whose segments include agri-machinery, auto ancillary products, railway equipment, construction equipments and others.
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