Kubota’s profit fell by a quarter, at Rs 147.5 crore, according to Escorts.

In a filing with the BSE on Monday, Escorts Kubota Limited said that its net profit for the quarter ended June 30, 2022, was Rs 147.5 crore, down from Rs 185.2 crore in the same period a year earlier. The company’s revenue from operations, meanwhile, was Rs 2,014.9 crores, up from Rs 1,677.0 cores a year earlier. For the quarter ending June 30, 2022, EBIDTA was Rs 201.6 crore, down from Rs 238.8 crore in the same period the year before. Despite the company’s efforts to increase prices across the board and cut expenses, “steep inflation in commodity prices coupled with adverse product mix impact due to industry shift towards lower horsepower segment adversely impacted operating profit for the quarter ended June 2022,” the company said in a statement.