Escorts Limited received consolidated operating income of Rs 7,014.42 crore in FY 2020-21, showing an increase from Rs 5,810.09 crore in FY 2019-20.
New Delhi. Escorts Limited, the company that makes the farm equipment, has released the fourth quarter results on Friday. The company recorded consolidated net profit more than doubled to Rs 285.41 crore for the fourth quarter ended March 2021. This increase is mainly due to strong sales. Escorts Limited said in a regulatory notice that the company had registered a consolidated net profit of Rs 127.73 crore in the same period of the previous financial year. The company’s consolidated income from operations rose to Rs 2,228.75 crore in the period under review, from Rs 1,385.65 crore a year earlier. 85% increase in net profit Escorts said that in the fourth quarter, tractor sales grew by 62.1 percent to 32,588 units. For the financial year ended 31 March, Escorts Ltd said its consolidated net profit increased to Rs 871.63 crore from Rs 471.72 crore in FY 2020, showing an increase of 85 per cent.Also read- Suzuki Swift is coming with new features, mileage will be strong, know when will be launched 1,06,741 units sold The company had consolidated operating income of Rs 7,014.42 crore in FY 2020-21, reflecting an increase from Rs 5,810.09 crore in FY 2019-20. In FY 2021, tractor sales increased 24.1 percent to 1,06,741 units. Nikhil Nanda, Chairman and Managing Director of Escorts Limited said, “The trend of the agricultural machinery industry in the fourth quarter of FY 2021 was quite positive mainly due to macroeconomic factors and suppressed demand in the first and second quarter of the year.” read this also- Covid-19 Effect: Automaker companies extend warranty period, see here who is included in it 7.5 rupees dividend announcement Escorts Limited has announced a dividend of Rs 7.5 per share to its shareholders. This is 75% of the company’s face value of 10 rupees a share. Whereas in the fourth quarter last year, the company paid a dividend of Rs 2.5 per share.