Escorts reported 5.6% rise in net profits at Rs.92.6 crore for the Jun-20 quarter. Overall revenues were however lower by 24% at Rs.1089 crore as the impact of the lockdown did impact overall numbers. Its EBITDA was 14.35% lower at Rs.122 crore although it must be said that the EBIDTA margin improved 130 bps to 11.2%.

Tractor sales for the Jun-20 quarter stood at 18,150 units against 21,051 units in the corresponding period last fiscal. That is a loss of 13.8% Tractor segmental revenues came in marginally lower at Rs.953.5 crore in the Jun-20 quarter. However, the EBIT margins in the agri-machinery business were up by 356 bps to 14.5% due to improved product mix. Better cost control and soft commodity prices also helped.

Construction equipment sales volume for the Jun-20 quarter almost fell 80% to just 234 machines as the construction activity almost came to a virtual standstill due to the impact of COVID-19 across India. Segmental revenues for the business were also down 75% at Rs.52.5 crore. Most of the sales for the quarter were recorded in June, with April and May almost begin zero months.