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Engineering company Escorts Ltd’s net profit more than tripled to Rs 58.3 crore in the third quarter ended June 30, compared with Rs 18.5 crore recorded during the same period a year ago.
The company, which follows the October-September fiscal, posted a 16.2 per cent rise in net sales Rs 1,172.9 crore (from Rs 1,009.1 crore) during the same quarter a year ago.
“The rise is due to increase in volumes, better product mix and better price realisation along with cost saving across all verticals,” said Joint Managing Director Nikhil Nanda.
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