Quarter ended March 2022 at Rs 202.2 crore, revenue down 12.4 pc

The quarter ended March 31, 2022 saw a 25.5 per cent drop in Escorts Limited's standalone profit. The January-March quarter's profit was at Rs 202.2 crore, compared to Rs 271.3 crore in the same quarter last year.

The Ecorts Limited reported today that its net profit for FY 22 fell by 12.4 per cent to Rs 765.6 against a previous year's profit of 1 crore.

Revenue from operations was 7,152. In the year ended March 2022, 7 crore were against Rs 6,929. In the same period last year, there were 3 crore. Revenue from operations was 1,861 for the quarter ended March 2022. 4 crore as opposed to 2,210. In the quarter ended March 2021, there were 5 crore.

Revenue from operations was Rs 7,238 at a consolidated level. During FY 22, 5 crore were lost against 7,014. In the year ended March 2021, 4 crore were spent. The net profit for the year ended March 2022 was 735.6 crore, compared to a profit of Rs 871.6 crore in the same period last year.

The Board of Directors has recommended a final dividend of 70 per cent i.e. A dividend of 7 per share of face value of Rs 10 for the financial year 2021 -- 22 will be given.

Chairman and Managing Director Nikhil Nanda said that the sector of the Agri sector is seeing positive tailwinds. The industry growth of 41 in April is a big boost to confidence. We hope this sector will continue to flourish with the prediction of normal monsoon and good news on crop prices and production. The construction railway sectors have shown signs of improvement. The situation will only improve from here with government spending focus in these sectors. The continued inflation is a cause of concern for both potential demand and ecosystem profitability, according to Nada.

For the year ended March 2022, tractor volumes at 94,228 units went down by 11.7 per cent compared to 1,06, 741 units in the same period last fiscal. For the quarter ended March 2022, tractor volumes at 21,895 units went down by 13.5 per cent sequentially and were down 32.8 per cent as opposed to 32,588 units in the corresponding quarter.

Construction equipment sales at 4,117 units increased by 5.2 per cent in FY 22 compared to 3,913 units in the same period last fiscal. For the quarter ended March 2022, construction equipment sales at 1,286 units went up by 11.7 per cent sequentially, but were down by 19.8 per cent against 1,604 units in the corresponding quarter last year.

In FY 22, the railway product division had its highest ever yearly revenue at Rs 636.2 crore, a rise of 32.8 per cent against Rs 479.0 crore in the last fiscal.