While domestic sales also increased 5.7% to 11,985 units in September 2024 as compared with 11,334 units sold in September 2023. With timely, widespread and above average monsoon leading to replenished water reservoir levels and favorable terms of trade, the company anticipate good sales growth during second half of current fiscal year.
The company’s export declined 47.1% to 395 units in September 2024 as against 747 units posted in September 2023.
Further, the company’s construction equipment business division sold 510 machines in September 2024, registering de-growth of 18.7% from 627 machines sold in September 2023.
“Government's emphasis on infrastructure development is expected to have a positive impact on the construction equipment industry after the monsoon season,” the tractor maker added.
Escorts Kubota is primarily engaged in the business of manufacturing of agricultural tractors, engines for agricultural tractors, construction, earth moving and material handling equipment, round and flat tubes, heating elements, double acting hydraulics.
The tractor maker's standalone net profit grew 2.4% to Rs 289.55 crore in Q1 FY25 as against Rs 282.81 crore posted in Q1 FY24. Revenue from operations declined 1.5% year on year to Rs 2,292.54 crore in the quarter ended 30 June 2024.
Shares of Escorts Kubota declined 1.72% to Rs 4195.75 on the BSE.