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Escorts gains on good June quarter earnings

The stock moved higher by 6% to Rs 679, recovering 8% from its intra-day low of Rs 627 on BSE

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Escorts

SI Reporter  |  Mumbai 

Escorts gained 6% to Rs 679, recovering 8% from its intra-day low of Rs 627 on BSE after the company reported 33% year on year (Y-o-Y) growth in net profit to Rs 63 crore for the quarter ended June 2017 (Q1FY18). The company had profit of Rs 47 crore in quarter ended June 2016 (Q1FY17).

Turnover during the quarter under review increased 11.4% to Rs 1,163 crore on YoY basis. “Tractor volumes increased by 7.3% to 17,561 units, while construction equipment volumes up 20% at 886 units, over the previous year quarter.,” Escorts said in a press release. The EBITDA (earnings ...

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First Published: Fri, July 28 2017. 12:13 IST
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