Escorts Kubota gained 3.85% to Rs 3,648 after its wholly owned subsidiary, Escorts Kubota Finance is intending to commence its business activities of non-banking financial institution from 26 November 2024.
The company stated that the NBFC would commence its business activities without accepting public deposits.Escorts Kubota is primarily engaged in the business of manufacturing of agricultural tractors, engines for agricultural tractors, construction, earth moving and material handling equipment, round and flat tubes, heating elements, double acting hydraulics. The tractor maker's standalone net profit grew 53.2% to Rs 326.70 crore on 0.5% rise in revenue from operations to Rs 2,476.16 crore in Q2 FY25 over Q2 FY24.
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