homevideos Newsinfrastructure NewsExpect positive surprise from construction equipment business, says Escorts
Expect positive surprise from construction equipment business, says Escorts
Shares in engineering firm Escorts jumped about 4 percent after it posted a near 93 percent surge in first-quarter net profit.
Shares in engineering firm Escorts jumped about 4 percent after it posted a near 93 percent surge in first-quarter net profit.
Bharat Madan, CFO of the company spoke to CNBC-TV18 about the results and company's outlook.
"This time the industry has done pretty well. So most of the growth is coming from volume," said Madan.
Talking about the price hike, he said, “We had done price increase in first quarter also, so roughly 50 percent of the inflationary trend which we face on the commodity side, the balance we had passed on in July. So hopefully this quarter we will not that impact coming from inflation.”
On business front, Madan said, “All the businesses are doing extremely well compared to last year so our guidance of 100 bps improvement is intact even now.”
'We expect positive surprise from construction equipment business going ahead," he added.
On full year basis we expect margin close to 17-18 percent range in railway business, he further mentioned.
First Published: Jul 31, 2018 11:53 AM IST
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