Escorts gains on improvement in January tractor sales

Escorts advanced after its tractor segment announced January sales figures before market hours today.

Escorts' agri machinery segment (EAM) in January 2020 sold 6,063 tractors, registering a growth of 1.2% against 5,991 tractors sold in January 2019. The segment's sales are up 47.37% from 4,114 units recorded in December 2019.

The company's domestic tractor sales in January 2020 stood at 5,845 tractors registering a growth of 1.4% against 5,762 tractors in January 2019. Exports in January 2020 stood at 218 tractors as against 229 tractors sold in January 2019, down 4.8% YoY.

The stock was currently trading 0.1% higher at Rs 804.80. It has traded in the range of Rs 794.85 and Rs 808 so far during the day.

The Escorts Group is an Indian engineering company that operates in the sectors of agri-machinery, construction and material handling equipment, and railway equipment.

The company reported 11% jump in consolidated net profit to Rs 154.87 crore on a 1.3% decline in net sales to Rs 1650.22 crore in Q3 December 2019 over Q3 December 2018.

Powered by Capital Market - Live News