Escorts sales fall 54% y-o-y in March

MUMBAI, 2 April 2020: Sales of tractor maker Escorts (Q,N,C,F)* Ltd. fell 54.3 percent year-on-year to 5,228 units in March. That coompares with the 11,905 tractors that the company sold a year ago.

Domestic tractor sales stood at 5,228 in March 2020 against 11,431 a year ago, while exports fell to 216 from 474 last year, Escorts said in an exchange filing.

The March auto sales numbers are not comparable with the corresponding period last year, as sales were impacted by the nationwide coronavirus lockdown. Escorts sales for the full fiscal year fell 11.90 percent from 93,323 units in FY19 to 82,252 units in FY20.

Shares of the company declined Rs 63.9, or 9.64%, to settle  at  Rs 599.05.  The total volume of shares traded  was  209,727 at  the BSE (Wednesday).