Helped by strong volume growth across its segments of tractors, railways and construction equipment, Escorts reported a 40 per cent year-on-year (y-o-y) jump in revenues for the March quarter (Q4). The performance, marginally lower than estimates, was led by the tractor segment, which accounts for three-quarters of the firm’s revenues and over 86 per cent of the segment’s profits.
Tractor volumes were up 57 per cent y-o-y, though realisations came in lower compared to Q3, given the launch of products in the lower horse power and compact segments. But, margins for the ...
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