Escorts Kubota Q2 Results: Profit Up 53%, Revenue Muted

Revenue of Escorts Kubota Ltd. remained muted in July-September 2024 as tractor sales continued to remain under pressure despite an above-normal monsoon.

Standalone net profit of the tractor maker rose 53.5% over the year-ago period to Rs 327 crore in the three months ended Sept. 30, on the back of revenue that increased 0.5% to Rs 2,476 crore. Analysts polled by Bloomberg estimated the top line at Rs 2,209 crore and the bottom line at Rs 263 crore.

• Revenue up 0.5% at Rs 2,476 crore (Bloomberg estimate: Rs 2,209 crore).

• Ebitda up 0.3% at Rs 268 crore (Bloomberg estimate: Rs 295 crore).

• Ebitda margin at 10.8% (Bloomberg estimate: 13.4%).

• Net profit up 53.5% at Rs 327 crore (Bloomberg estimate: Rs 263 crore).

(This is a developing story).