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Escorts Q4 PAT up 93% YoY to Rs 346 cr


Escorts reported 93.2% jump in consolidated net profit to Rs 346.2 crore on 60.8% increase in revenue from operations to Rs 2,228.8 crore in Q4 FY21 over Q4 FY20.
On a standalone basis, the company s net profit increased 93.2% to Rs 271.3 crore in Q4 FY21 from Rs 140.4 crore in Q4 FY20. Revenue from operations jumped 60.1% year-on-year (YoY) to Rs 2,210.5 crore during the quarter.
For the quarter ended March 2021, Tractor sales were at 32,588 units, up 62.06% as against 20,108 units in the corresponding period last year. Segmental revenue came at Rs 1,738.8 crores in Q4 FY21, up by 64.3% as against Rs 1,058.4 crore in Q4 FY20.
Construction equipment sales in the fourth quarter were at 1,604 units, up by 62.7% as against 986 units in the same period last fiscal. Segmental revenue came at Rs 322 crore in the quarter ended March 2021, up by 53.3% as against Rs 210 crore in corresponding period last year. ....

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Choice Equity Broking in pact to acquire 100% stake in Escorts Securities Limited


Mumbai (Maharashtra) [India], April 9 (ANI/PRNewswire): Mumbai-based Choice Equity Broking Private Limited on Thursday has entered into an agreement to acquired 100 per cent stake in New Delhi based Escorts Securities Limited.
The acquisition entails mainly the broking business and will be completed within the next six months, subject to necessary statutory approvals.
The buyout shall bring in operational synergies and shall augment the profitability of Choice Equity Broking with its increasing clientele, said Kamal Poddar, managing director of the BSE-listed Choice International and the holding company of Choice Equity Broking.
Without disclosing the consideration for the acquisition, Poddar said that Choice Equity Broking (https://choicebroking.in) ranked among the top 30 brokerage houses, will continue to explore inorganic growth through more such initiatives. ....

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