The cash profit of the company has risen to Rs 137.20 crore, up 38 per cent, and the profit before tax has increased by 37 per cent to Rs 126.30 crore as against Rs 92 crore during the corresponding period of the previous year.

The results were well received by the market with the scrip rising Rs 36 at the National Stock Exchange to close at Rs 888. It touched a high of Rs 889.95 after opening at Rs 859.95 as against Monday's close of 852.

The company, which manufactures the Swaraj brand of tractors, said the performance was pushed by a 20 per cent growth in tractor volumes which reached 34,704 vehicles for the nine month period.

Production for the third quarter itself crossed the 13,000 mark for the first timeand the offtake during this period was 12,182 vehicles, an increase of 22 per cent over the previous year's corresponding figure.

The company claims that its market share has gone up to 18.50 per cent for the first nine months of the fiscal as against a market share of 15.80 per cent during the corresponding period of the previous year.

The increase in volume to 5,814 vehicles during the first nine months (over the previous year) is more than the aggregate growth of 5,001 vehicles by the entire industry.

More than 98 per cent of the company's increase in profit has come from company's main line business.