Escorts shares gain 4.5% on smart Q4 results

Shares of farm equipment maker Escorts today surged 4.5 per cent after the company's net profit surged over three-fold for the fourth quarter ended March.
The stock went up by 4.51 per cent to close at Rs 671.80 on BSE. During the day, it soared 6.38 per cent to Rs 683.85.
On NSE, it jumped 4.44 per cent to end at Rs 671.25.
On the volume front, 9.10 lakh shares of the company were traded on BSE and over 54 lakh shares changed hands at NSE during the day.
Escorts today said its net profit surged over three-fold to Rs 59.48 crore for the fourth quarter ended March, on back of robust sales and cost reduction initiatives.

The company had reported a net profit of Rs 18.36 crore during the same period of previous fiscal.
Total income rose to Rs 1,062.21 crore for the fourth quarter as compared to Rs 823.52 crore in the same period of previous fiscal, Escorts Ltd said in a regulatory filing.