Escorts Kubota Q4 Results: Net profit rises on lower costs
The domestic tractor sector saw a decline in volumes in the quarter, as agricultural income was hit by patchy monsoon rains and falling reservoir levels, analysts said.
Indian tractor maker reported a 30.5% rise in fourth-quarter profit on Thursday, as a fall in costs offset lower demand.WHY IT'S IMPORTANT
are often seen as an indicator of the health of the and in India.
The saw a decline in volumes in the quarter, as agricultural income was hit by patchy and falling , analysts said.
BY THE NUMBERS
Escorts Kubota's net profit rose to 2.42 billion rupees ($29 million) for the three months ended March 31 from 1.85 billion rupees a year earlier.
Revenue from operations fell 4.6% to 20.82 billion rupees after seven straight quarters of growth.
Quarterly sales for were down 14.2% year-over-year.
Total expenses were down 6.2% at 18.64 billion rupees.
WHAT'S NEXT
Early signs of a normal monsoon in 2025 are expected to enhance rural sentiment and drive tractor sales in the current fiscal year, the company said in a sales report in March. It expects demand to stabilize after the .
($1 = 83.5100 Indian rupees)
Source: Stocks-Markets-Economic Times
