VST Tillers Tractors reports 60% profit growth in September quarter on strong sales

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Farm equipment maker VST Tillers Tractors Ltd reported a 60 per cent growth in September quarter profits on higher sales.

Profits for the September quarter stood at ₹36.45 crore on revenue of ₹278.51 crore. For the same period last year, the company reported a profit of ₹22.74 crore on revenue of ₹234.15 crore.

The company’s earnings before interest, taxes, depreciation & amortization (EBITDA) stood at ₹57.02 crore during the September 2023 quarter, which is 19.50 per cent of revenue. The EBITDA margin stood at 16.73 per cent in the corresponding quarter last year.

For the first half of the current fiscal, VST Tillers reported a profit of ₹69.44 crore on revenue of ₹524.65 crore. For the corresponding period, the profits stood at ₹32.79 crore on revenue of ₹470.13 crore.

The company has also registered growth of 54% in the export of tractors for H1 FY24. In the domestic market, VST has launched a series of nine models in this quarter, which is receiving a good response from the market, the company said in a statement.