Bengaluru
VST Tillers Tractors Limited (VST), a farm equipment manufacturer, on Tuesday posted a 21.89% rise in Q1 revenue to ₹235.98 crore from ₹193.60 crore in the year-earlier period. Net profit, however, declined by 58% to ₹10.05 crore, compared with ₹24.01 crore in the year earlier.
Rising raw material costs and the capex investments made in the first quarter impacted the bottom-line, the company said. “PAT was impacted by ₹14.05 crore due to mark to market of investments,” the company said in a statement.
