Escorts swung to a loss for the quarter ended June, 2007, on the back of steep drop of 469 basis points in operating margin.
During the quarter, the company reported a loss of Rs 62.4 million as compared with a profit of Rs 15.70 million in the corresponding quarter of the previous year.
Net sales for the quarter rose 7.73% to Rs 5,155 million compared with the corresponding quarter, a year ago.
The company posted a loss per share of Rs 0.86 for the quarter ended June 2007 compared with earnings per share of Rs 0.22 in the same quarter of previous year.
Escorts is engaged in the businesses of manufacturing agri machinery, railway equipment and auto components, and construction equipment.
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