Tractor maker Escorts Ltd on Tuesday said its net profit surged over three-fold at Rs 58.3 crore for third quarter ended June 30, 2013.
The company had posted a net profit of Rs 18.46 crore during the same period of previous year.
Net sales of the company rose to Rs 1,172,89 crore for the third quarter, compared to Rs 1,009.09 crore for the same period of previous year, Escorts said in a filing to the BSE.
"What we see today is the beginning of a journey which started with a strong focus on profitability in a constrained market situation," Escorts Joint Managing Director Nikhil Nanda said.
Escorts Ltd follows October-September fiscal year.
Shares of Escorts today closed at Rs 73.90 apiece on the BSE, up 3.07 per cent from from their previous close.