The net profit for the quarter ended

The net profit for the quarter ended June 30 of the Farm and Construction major Escorts witnessed a two fold hike from Rs 22.2 crore to Rs 45.84 crore within an year. The company's statement reflected a rise in the net sales of the company by 38.5 percent that is from Rs 582 crore to Rs 806 crore if we compare the current year's and previous year's sales.The Chairman and the Managing Director of Escorts, Mr. Rajan Nanda remarked on the results of the company's profit by stating that, "Our liquidity has improved, interest costs have fallen substantially and debt: equity ratio is attractive. The company is consistently enhancing shareholder value through growth initiatives, fiscal prudence and innovative strategies."With the fiscal year starting from October to September, during the June quarter, the total sales of the company rose by 39 percent that is from an amount of 12.889 units to 17,917 units. In the same quarter the company even came up with a new tractor variant Powertrac 429(PT429), comprising a 27 HP and two cylinder engine.Along with the tractor launch, the company even launched its backhoe loader, DIGMAX, as an ingredient of its plan towards the expansion of its product portfolio to hold a major share in the construction equipment market.As in respect of the future plans, without specifying the time period for launching the product, Nanda mentioned, "We will be investing in Agri machinery business to expand capacity and develop new technology. We plan to launch 6-7 new products which are best suited for specialized application needs of the farmer."