Engineering conglomerate Escorts today reported 61.64 per cent rise in net profit at Rs 37.47 crore for the second quarter ended March 31, 2013. The company had posted a net profit of Rs 23.18 crore for the corresponding period previous fiscal. The company follows a October—September fiscal.
Net sales of the company however stood at Rs 997.13 crore for the quarter under consideration as against Rs 1,026.46 crore for the same period year ago.
Commenting on the results, Escorts Joint Managing Director Nikhil Nanda said: “We have significantly increased our operating margin with a sharp focus on cost discipline, inter function and group synergies and a diversified bouquet of products.”
Escorts Group operates in the sectors of agri-machinery, construction & material handling equipment, railway equipment and auto components.
Shares of Escorts Ltd today closed at Rs 65.45 on the BSE, up 0.08 per cent from their previous close.
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