Engineering conglomerate Escorts on Wednesday reported over two fold jump in net profit at Rs. 43.63 crore for the fourth quarter ended September 31, 2013.
The company had posted a net profit of Rs. 18.88 crore for the corresponding period previous fiscal.
The company follows a October-September fiscal.
Net sales of the company stood at Rs. 939.96 crore for the quarter under consideration as against Rs. 818.73 crore for the same period year ago.
Commenting on the result Escorts Chairman and Managing Director Rajan Nanda said: “New products, new markets, focus on consumer preferences and profitability have been the keystone of this fiscal. We have strengthen our presence in existing and new markets, entered new segments and relooked at the way we did the business.”
Escorts for the year ended at September 2013 also increased its net profit of Rs. 167.55 crore as against Rs. 69.60 crore in the year-ago period.
Net sales of the company also increased to Rs. 4,135.99 crore as against Rs. 3,877.72 crore in the same period last year.
Shares of Escorts Ltd on Wednesday closed at Rs. 99.05 apiece on the BSE, up 2.48 per cent from their previous close.