Escorts Agri Machinery Segment in May 2018 sold 8325 tractors registering a growth of 20.9% against 6886 tractors sold in May 2017. Domestic tractor sales in May 2018 were higher by 19.5% at 8087 tractors against 6770 tractors sold in May 2017. Export rose 105.2% to 238 tractors in May 2018 against 116 tractors sold in May 2017.

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Escorts announced that the Board of Directors of the Company at its meeting held on 17 May 2018, has recommended a final dividend of Rs.2 per share (i.e.20%), subject to the approval of the shareholders.

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Net profit of Escorts rose 89.21% to Rs 112.54 crore in the quarter ended March 2018 as against Rs 59.48 crore during the previous quarter ended March 2017. Sales rose 40.48% to Rs 1436.10 crore in the quarter ended March 2018 as against Rs 1022.31 crore during the previous quarter ended March 2017.

For the full year,net profit rose 114.86% to Rs 344.72 crore in the year ended March 2018 as against Rs 160.44 crore during the previous year ended March 2017. Sales rose 22.04% to Rs 4995.12 crore in the year ended March 2018 as against Rs 4093.16 crore during the previous year ended March 2017.

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Escorts has sold its entire shareholding i.e. 30 lakh equity shares (30%) in Escorts Asset Management (now named changed to Quant Money Managers), a subsidiary company. Accordingly, the entity has ceased to a subsidiary of the company with immediate effect.

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