VST Tillers Tractors' net profit dropped 29.27% to Rs 22.74 crore in Q2 FY23 as against Rs 32.15 crore recorded in Q2 FY22.
Revenue from operations increased marginally to Rs 234.15 crore in quarter ended 30 September 2022 from Rs 233.46 crore posted in the corresponding quarter previous year.
Consolidated profit before tax stood at Rs 33.74 crore in Q2 FY23, declining 21.21% as compared to Rs 42.82 crore reported in the same period a year ago.
The company's EBITDA stood at Rs 40.56 crore for the quarter ended 30 September 2022, registering a growth of 16.73% on sales, despite commodity pressure.
Total expenses rose 3.73% year on year to Rs 208.73 crore in Q2 FY23. Cost of raw materials and components consumed was at Rs 172.08 crore (up 9.71% YoY) while employee expenses stood at Rs 19.90 crore (up 10.86% YoY).
Shares of VST Tillers Tractors advanced 4.71% to Rs 2234 on the BSE.
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