Escorts Kubota on Thursday (7 July 2022) announced that its agri machinery division will increase the prices of its tractors with effect from Sunday, 10 July 2022.
The company said that there has been a steady rise in commodity prices necessitating a price hike to partially offset the rise in input cost due to continuing inflation. The increase in prices would vary across models and variants, it added.
The Escorts Group is an Indian engineering company that operates in the sectors of agri-machinery, construction and material handling equipment, and railway equipment.
Escorts Kubota reported 28.1% fall in consolidated net profit to Rs 190.92 crore on a 15.7% decline in revenue from operations to Rs 1,878.51 crore in Q4 FY22 over Q4 FY21.
Shares of Escorts Kubota were up 0.56% to Rs 1,571.10 on the BSE.
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