Shares of Escorts Kubota, country’s leading tractor manufacturer surged over 3% from its day’s lows after the company reported a strong set of Q3 earnings, with its net profit and revenue beating street estimates. Escorts Kubota’s shares made an intraday high of Rs 2,978 against its day’s low of Rs 2,860, translating to a jump of more than 3.5% from lows.
Escort Kubota’s Q3 net profit surged 49% on a YoY basis to Rs 277 crore against a profit of Rs 186 crore posted in the same period last year. The revenue also grew to Rs 2,320 crore against Rs 2,264 crore in Q3FY23. Margin for Q3 witnessed a sharp rise coming in at 13.4% vs 8.4% in the October-December quarter of the previous financial year.
Escorts Kubota however has been an underperformer in the recent few months. According to data, the stock has delivered negative returns of 6.7% in the last six months and is also down close to 2% so far this year.
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Escorts Kubota