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Escorts to hike tractor costs from 1 April

Escorts Agri Machinery (EAM), a division of Escorts, will increase the prices of its tractors from April 1, 2021.

In a listing on the stock exchange, Escorts said: “The prices of raw materials have risen steadily, which makes a price increase necessary to offset the effects of inflation. The price increase would vary depending on the model and variant.”

Escorts stocks traded 3.18% lower on BSE at Rs 1321.95.

Escorts is a mechanical engineering conglomerate with industries such as agricultural machinery, construction and material handling equipment and railway equipment.

The company’s consolidated net income increased 85.1% to Rs.286.71 billion after operating revenue for the third quarter of FY 21 versus the third quarter of FY 20 increased 23.8% to $ 2,042.23 billion. Rupees had risen.

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(This story was not edited by Business Standard staff and is automatically generated from a syndicated feed.)

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