Escorts Kubota agri machinery division has raised its tractor's prices on 10th July 2022, Sunday.
The company also claimed that a price increase was necessary to partially offset the rise in input costs caused by ongoing inflation due to a constant surge in commodity prices. According to the company’s statement, increased prices will vary between models and variants.
Escorts Group is an Indian engineering firm that works in agricultural machinery, building and material handling equipment, and railroad equipment also.
Escorts Kubota registered a 28.1% loss in its collective net profit to Rs 190.92 crore on a 15.7% drop in operating revenue to Rs 1,878.51 crore in Q4 FY 2022 compared to Q4 FY 2021.
On the BSE reports, Escorts Kubota market shares increased 0.56 per cent to Rs 1,571.10.
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