Escorts Kubota beats Q2 profit view on agricultural machinery growth, ET Auto

Escorts Kubota reported a higher-than-expected profit in the second quarter, with a standalone net profit of 3.27 billion rupees. Revenue increased slightly to 24.76 billion rupees, while expenses also rose. Domestic sales improved by 0.3%, with strong growth in the agricultural machinery segment offsetting weaknesses in other areas. The company also benefited from a deferred tax gain and a decrease in the cost of raw materials. Overall, it was a positive quarter for Escorts Kubota, driven by growth in its core agricultural machinery business.