VST Tillers Q4 net up 82 per cent at Rs 40 cr on higher sales

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Farm equipment manufacturer VST Tillers Tractor Ltd It reported an 82 per cent jump in March quarter profit at ₹40.15 crore. It was $22.10 crore in the same quarter last year. Income for the quarter increased by 48 per cent at Rs. 322 crore, as against Rs. 218 crore in the corresponding previous quarter.

For the financial year ending March 2023, VST Tillers reported a 7 per cent drop in net profit at ₹92.37 crore, compared to ₹99.31 crore last year for higher expenses. Income for the quarter increased by 18 per cent at ₹1,006 crore over the previous year’s ₹853 crore.

Expenses for the year increased by 21% to Rs.879 crore over the previous year’s Rs.729 crore.

EBITDA margin stood at Rs.152.16 crore, around 14.75 per cent on sales. This is despite higher commodity prices and lower other income from the market to market gains on investments, the company said in a statement.

VST had its highest ever power tiller sales at 38,247 units in FY23, and tractor exports rose to 1,458 tractors for the year.

The Board of Directors of VST Tillers has proposed a dividend of $25 per share for the year, which is 250 per cent of the par value of shares of Rs 10 per share.

VST Tillers ended up 1.29 percent at $2,516.20 on BSE on Friday.