/ Escorts Sales Drops Over 16% In June ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 3 July 2017

Escorts, which offers agricultural tractors and construction equipment, on Monday said that its Agri Machinery Segment (EAM) sold 5,776 tractors, declining by 16.9% in June 2017 as compared to 6,946 tractors in June 2016

The company’s domestic sales in June 2017 stood at 5,669 tractors, slowing down by 16.8% as against 6,980 in June 2016.

Exports for the month of June 2017 rose 91.1% at 107 tractors as compared to 56 tractors in June 2016.

While domestic retail sales have grown by about 12% (YoY) but wholesales have been reduced during June 2017 to enable de-stocking by the dealers to minimise the transition impact on inventories caused by GST provisions and the same will be made up during Q2 FY18, the company said in its regulatory filing.

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