On the back of rising input costs, Tractor maker Escorts is all set to increase its tractor prices by 2-3 percent with effect from September 1, 2012. The company is raising the prices mainly due to higher input costs especially that of raw materials like steel and rubber.
The company will increase the prices across the range of Farmtrac, Powertrac and Escort brand of tractors. Escorts offer a comprehensive range of tractors with more than 45 variants starting from 25 to 80 HP. It also manufactures and markets a diverse range of equipments like cranes, loaders, vibratory rollers and forklifts.
The company reported a growth of 103.40% in its net profit at Rs 26.89 crore for the quarter under review as compared to Rs 13.22 crore for the same quarter in the previous year.
