Escorts Kubota JV starts commercial production of Kubota Tractors
Escorts has been informed by Escorts Kubota India (EKI) that they have started the commercial production of Kubota Tractors from 25 September 2020.
Escorts Kubota India (EKI) is a 60:40 Joint Venture between Kubota Corporation, Japan and Escorts.
The announcement was made after market hours on Friday, 25 September 2020. Shares of Escorts rose 4% to settle at Rs 1203.10 on Friday.
On a consolidated basis, the tractor maker's net profit rose 5.6% to Rs 92.58 crore on 24.4% decline in net sales to Rs 1,089.26 crore in Q1 June 2020 over Q1 June 2019.
The Escorts Group is an Indian engineering company that operates in the sectors of agri-machinery, construction and material handling equipment, and railway equipment.
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First Published: Sep 28 2020 | 8:26 AM IST