Escorts Kubota Limited Agri Machinery Business Division in August 2023 sold 5,593 tractors as against 6,111 tractors sold in August 2022 with a fall of 8.5 per cent, the company announced on Friday through an exchange filing.
Domestic tractor sales in August 2023 saw a drop of 2.1 per cent to 5,198 tractors as against 5,308 tractors sold in August 2022. The company in the regulatory filing said, "While there has been a positive momentum in some markets due to Government subsidy programs, the deficient monsoon in other regions during the month of August coupled with shifting of key festive season to the third quarter of this fiscal impacted tractor sales this month. With other macro-economic factors remaining intact, if monsoon catches up in September in these regions, tractor demand may witness good pick up in the upcoming festive months."
Escorts tractor exports saw a major drop of 50.8 per cent with 395 exported in August 2023 as against 803 tractors sold in August 2022.
Escorts Kubota shares
The shares of Escorts Kubota on Friday morning at 10:25 am IST were trading at Rs 3,162.60.
