VST Tillers Tractors Limited (VST), a leading farm equipment manufacturer in India, has announced its financial results for the quarter ending June 30, 2024.
For this quarter, VST reported a turnover of ₹190.59 crore, a decrease from ₹246.14 crore in the same period last year. The decline in revenue is attributed to drought conditions in key markets and the general elections across India.
The profit before tax for the quarter stands at ₹27.94 crore, down from ₹42.59 crore the previous year.
Net profit is ₹22.85 crore, which represents 10.78% of the total income, compared to 12.48% in the previous year. The reduced top line has impacted overall profitability.