Escorts fell 2.98% to Rs 610.75 after total tractor sales fell 10.5% to 4114 units in December 2019 over December 2018.
Sequentially, total tractor sales slumped 46.17% last month from 7,642 units in November 2019.Domestic tractor sales fell 9.6% to 3,806 units in December 2019 as against 4,212 units in December 2018. Total tractor exports tumbled 20.2% to 308 tractors in December 2019 as against 386 units in December 2018.
On consolidated basis, Escorts' net profit rose 7.7% to Rs 109.34 crore on a 5.6% decline in net sales to Rs 1,333.77 crore in Q2 September 2019 over Q2 September 2018.
Escorts is an engineering company, which offers agricultural tractors and construction equipment. The automobile firm's segments include agri machinery, auto ancillary products, railway equipment, construction equipments and others.
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