Standalone Q2FY25 Profit up by 53.2% to ₹ 326.7 Crore
- Tractor volumes at 25,995 units.
- Construction Equipment volumes at 1,394 units.
- Standalone EBIDTA at ₹ 267.6 crore.
- Standalone Net Profit up by 53.2% at ₹ 326.7 crore.
Faridabad, November 7, 2024: Escorts Kubota Limited (EKL) today reported standalone profit of ₹ 326.7 crore in quarter ended September 30, 2024, up by 53.2% as against a profit of ₹ 213.3 crore in corresponding quarter and up by 7.6% as against ₹ 303.5 crore in sequential quarter.
All numbers are Standalone |Cr. = Crore| FY = Fiscal Year from April to March| bps=Basis points | YoY = Year on Year | Q = Quarter | H = Half year
Revenue from operations for the quarter came at ₹ 2,476.2 crore as against ₹ 2,464.6 crore in the corresponding quarter and as against ₹ 2,801.0 crore in sequential quarter. EBIDTA for the quarter came at ₹ 267.6 crore as against ₹ 266.7 crore in corresponding quarter and as against ₹ 369.4 crore in sequential quarter.
For first half ended September 2024, Standalone revenue from operations came at ₹ 5,277.1 crore as against ₹ 5,266.8 crore in corresponding period last year. The profit before tax was at ₹ 710.3 crore, up by 3.9% as against ₹ 683.7 crore in corresponding period last year. Net profit after tax at ₹ 630.2 crore up by 23.9% as against ₹ 508.7 Crore in corresponding period last year.
Tax expenses for the quarter and six month ended September 2024 includes the one-time impact of approx. ₹ 91 Crore on account of utilization of brought forward losses of amalgamating companies now available to the Company as per the Scheme along with impact due to change in long term capital gain tax provisions as per Finance Act (No.2), 2024 in respect of certain financial assets held by the Company.
On Consolidated basis, revenue from operations for the first half ended September 2024, at ₹ 5,306.9 crore as against ₹ 5,307.4 crore in corresponding period last year. Consolidated profit after tax at ₹ 625.9 Crore as against ₹ 508.1 Crore in corresponding period last year. EPS reported at ₹ 56.94 as against ₹ 46.31 in the corresponding period last year.
SEGMENT WISE PERFORMANCE
Agri Machinery Products
For the quarter ended September 2024, Tractor volumes came at 25,995 units as against 26,241 units in corresponding quarter and 30,370 units in sequential quarter.
Segment revenue came at ₹ 1,884.2 crore in quarter ended September 2024 as against ₹ 1,789.4 crore in corresponding quarter and ₹ 2,171.7 crore in sequential quarter. EBIT margin for the quarter ended September 2024 came at 9.1% as against 9.3% in corresponding quarter and 11.7% in sequential quarter.
For the first half ended September 2024, tractor volume came at 56,365 units as against 58,494 units in corresponding period last year. Segment revenue came at ₹ 4,055.9 crore as against ₹ 3,911.7 crore in in corresponding period last year. EBIT margin for the first half of the current fiscal came at 10.5% as against 10.6 % in the corresponding period last fiscal.
Construction Equipment
For the quarter ended September 2024, Construction Equipment's sales volume came at 1,394 units as against 1,709 units in corresponding quarter and 1,382 units in sequential quarter. Segment revenue came at ₹ 379.9 crore in quarter ended September 2024 as against ₹ 440.2 crore in corresponding quarter and ₹ 380.6 crore in sequential quarter. EBIT margin for the quarter ended September 2024 came at 9.3% as against 9.9% in corresponding quarter and 10.3% in sequential quarter.
For the first half ended September 2024, construction equipment volumes came at 2,776 units as against 3,175 units in corresponding period last year. Segment revenue came at ₹ 760.6 Crores as against ₹ 816.9 crore in in corresponding period last year. EBIT margin for the first half of the current fiscal was up at 9.8% as against 8.8% in the corresponding period last fiscal.
Railway Equipments
For the quarter ended September 2024, Railway Equipments Segment revenue came at ₹ 211.2 crore as against ₹ 234.3 crore in corresponding quarter and ₹ 244.7 crore in sequential quarter. EBIT margin for the quarter ended September 2024 came at 15.2% as against 18.5% in corresponding quarter and 20.5% in sequential quarter.
For first half ended September 2024, Revenue form Railway Equipments Segment came at ₹ 455.9 crore as against ₹ 532.1 crore in corresponding period last year. EBIT margin for first half of current fiscal came at 18.0% as against 19.8% in the corresponding period last fiscal.
The reviewed accounts of the second quarter and first six months ended 30th September 2024 have been approved by the Board of Directors of Escorts Kubota Limited.
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