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Escorts reports 5.5% fall in FY11 consolidated net

29 Nov 2011 Evaluate

Agri machinery products maker Escorts has reported a fall of 5.47% in its consolidated net profit to Rs 125.06 crore for the fiscal ended November 30, 2011, due to rise in raw material costs. The company had posted a net profit of Rs 132.31 crore in the previous fiscal.

However, net sales of the company rose to Rs 4,050.32 crore for the financial year ended November 30, 2011, against Rs 3,324.21 crore in the last fiscal.

On a standalone basis, the company posted a net profit of Rs 120.09 crore for the fiscal, against Rs 137.55 crore in the previous financial year, down by 12.69%. Total net operating income of the company increased by 17.61% to Rs 3251.49 crore for the year under review as compared to Rs 2764.61 crore for the last year.

The company’s board also approved a dividend of Rs 1.50 (15%) per equity share for the financial year ended September 30, 2011.

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