Our Bureau Engineering and farm equipment maker Escorts has reported a standalone net profit of ₹103 crore for Q2 FY19, up 32 per cent from the ₹78 crore reported in Q2 FY18.
Revenue from operations rose 15 per cent to ₹1,398 crore (₹1,212 crore).
Nikhil Nanda, CMD, Escorts, said the company’s shared service platforms such as Crop Solutions and technology aggregation are doing well. “Our construction equipment portfolio, with recent collaborations, also has widened, and offers product variability across applications,” he added.
The Railways business has a strong order pipeline and is constantly developing technology for sector comfort and safety, he said.
“Escorts today has a very competitive and innovative product portfolio both in domestic and export geographies. We are also building in strategic technology partnerships to bring in the global best for product efficiency and performance to offer best customer experience,” Nanda added.