Escorts Kubota Q3 Results: Profit Beats Estimates, Dividend Of Rs 10 Apiece
Revenue up 8.5% to Rs 2,935.4 crore in the December quarter.
The bottom line of Escorts Kubota Ltd. rose in the December quarter of the current financial year, surpassing the Street's expectations.
Standalone net profit of the tractor maker rose 9% to Rs 323.2 crore in the three months ended Dec. 30, according to an exchange filing on Friday. Analysts polled by Bloomberg estimated it at Rs 288 crore.
Escorts Kubota Q3 Highlights (Standalone, YoY)
Revenue up 8.5% to Rs 2,935.4 crore versus Rs 2,706.4 crore (Bloomberg Estimate: Rs 2,913 crore).
Ebitda up 4% to Rs 335.3 crore versus Rs 323.8 crore (Estimate: Rs 372 crore).
Margin narrows to 11.4% versus 12% (Estimate: 12.8%).
Net profit up 9% to Rs 323.2 crore versus Rs 297.9 crore (Estimate: Rs 288 crore).
The automobile company announced a second interim dividend of Rs 10 per share at a face value of Rs 10 each for financial year 2024–25. The board has set Feb. 14 as the record date for determining the shareholders eligible for the dividend payout.
This marks the second interim dividend issued by the company this fiscal, following a previous Rs 18 dividend disbursed in July 2024.
Shares of Escorts Kubota closed 0.93% higher at Rs 3,269.70 apiece on the NSE, compared to a 0.71% decline in the benchmark Nifty. It has risen 17.55% in the last 12 months.
Six analysts tracking the company have a 'buy' rating on the stock, four recommend 'hold' and one suggests 'sell', according to Bloomberg data. The average of 12-month analysts' consensus price targets implies a potential upside of 6.8%.
