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Escorts: Strong volume growth guidance for Q2

Demand shift to current quarter on account of GST, good monsoon are triggers

Ram Prasad Sahu 

On a day when the broader markets closed marginally lower, the Escorts stock was up a sharp 4.2 per cent on the back of a steady performance and strong outlook for its key divisions. Net profit for the quarter, which came in at Rs 63 crore, was up 34 per cent over the year-ago quarter and was boosted by higher other income. The reported number beat consensus estimates of Rs 61 crore.  Aided by a seven per cent increase in tractor volumes in the June quarter and a price hike in March, overall revenues were up 11 per cent. There was, however, pressure on tractor sales in ...

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