Escorts Kubota Standalone Profit at ₹235 Cr In Q2FY24

Escorts Kubota Limited (EKL) on Friday reported highest ever second quarter standalone net profit of Rs 235 crore in quarter ended September 30, 2023, as against a net profit of Rs 87 .7 crore in corresponding period last year, the company announced through an exchange filing.

Revenue from operations for the quarter came at Rs 2,046.2 crore, up by 8.6%, as against Rs 1,883.5 crore in corresponding period last year. EBIDTA for the quarter came at Rs 263.3 crore, up by 72.4%, as against Rs 152.7 crore in corresponding period last year, led by softening in commodity prices and improved price realisation.

First half-year results

For the first half year ended September 2023, Standalone revenue from operations came at Rs 4,373.9 crore, up by 12.2% as against Rs 3,898.3 crore in the corresponding period last year. The profit before tax and before the exceptional items was at Rs 693.8 crore as against Rs 389.5 crore in the corresponding period last year. Net profit after exceptional item and tax more than doubled to Rs 517.8 crore as against Rs 235.1 Crore in the corresponding period last year, led by operating leverage, better realization and softening in commodity prices.

Consolidated basis

On Consolidated basis, revenue from operations for the first half ended September 2023 was up by 12.5% to Rs 4,414.5 crore as against Rs3,922.9 crore in corresponding period last year. Consolidated net profit after exceptional item and tax more than doubled to Rs 513.1 crore as against Rs 239.4 Crore in the corresponding period last year. EPS was reported at Rs 47.37 as against Rs 22.14 in corresponding period last year.

Escorts Kubota Limited shares

The shares of Escorts Kubota Limited on Friday at 3:30 pm IST closed at Rs 3,078, up by 0.76 percent.

Published on: Friday, November 03, 2023, 03:50 PM IST