Wednesday, December 26, 2007

Escorts FY07 consolidated loss narrows to Rs 55.10 mn

Escorts, one of the leading tractor manufacturers, reported on Wednesday, the losses during FY07, narrowing to Rs 55.10 million on consolidated basis as compared to net loss of Rs 474.10 million in FY06. On the other hand, the revenue side showedgrowth of 15.72% on consolidated basis to Rs 28,248.20 million in FY07, compared with Rs 24,409.60 million in FY06.

However, on standalone basis, Escorts swung to a loss in FY to Rs 64.40 million in FY07 as compared to net profit of Rs 190 million in FY06. While the standalone revenues climbed 12.05% in FY07 to Rs 21,021.50 million compared with Rs 18,760.20 million in FY06.

Formed in 1944, Escorts is a manufacture farm equipment, automotive components, railway ancillaries, construction machinery, shock absorbers and telecom equipment.

Shares of the company gained Rs 3.8, or 2.59%, to settle at Rs 150.55. The total volume of shares traded was 168,476 at the BSE. (Wednesday)

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