VST Tillers Tractors Reports Impressive 60% Profit Growth in September Quarter on Robust Sales

In a remarkable display of resilience and growth, VST Tillers Tractors Ltd, a leading farm equipment manufacturer, has announced a staggering 60% increase in profits for the September quarter of 2023, propelled by surging sales in both domestic and international markets.

For the third quarter of the year, VST Tillers Tractors reported a net profit of ₹36.45 crore, representing a remarkable leap from the ₹22.74 crore profit recorded during the same period in the previous year. The revenue for this quarter reached ₹278.51 crore, demonstrating a substantial increase from ₹234.15 crore in the previous year.

One of the key indicators of the company's robust financial performance is the earnings before interest, taxes, depreciation & amortization (EBITDA), which amounted to ₹57.02 crore, constituting 19.50% of the company's revenue. This marks a significant improvement from the EBITDA margin of 16.73% in the corresponding quarter of the previous year.

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For the first half of the current fiscal year, VST Tillers reported a noteworthy profit of ₹69.44 crore on revenue of ₹524.65 crore. This is a substantial upturn from the ₹32.79 crore profit and revenue of ₹470.13 crore reported for the same period the previous year.

An important aspect of this growth story is the company's increased traction in the global market. VST Tillers Tractors registered an impressive 54% surge in the export of tractors during the first half of the fiscal year 2023-24. This underscores the company's expanding presence and acceptance of its products in international markets.

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In the domestic market, VST Tillers Tractors has continued to innovate and meet the evolving needs of farmers. The company has introduced a series of nine new tractor models in this quarter, and these offerings have been met with a highly positive response from the market. This not only strengthens VST's foothold in the local agricultural machinery sector but also demonstrates its commitment to meeting the diverse needs of its customers.

VST Tillers Tractors' consistent growth is a testament to its dedication to providing high-quality farm equipment, fostering innovation, and responding to the dynamic demands of the agriculture sector. With strong financials and a promising outlook, the company is poised for further expansion and a sustained positive impact on the agricultural industry.

Investors, farmers, and industry enthusiasts are keenly watching the company's journey, as VST Tillers Tractors Ltd continues to be a shining example of success and growth in the farm equipment manufacturing sector.

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