VST Tillers posts net profit of Rs 2.24 cr for Q1

Bangalore, Aug 10 (UNI) VST Tillers Tractors Ltd, manufacturers of power tillers, today posted a profit after tax of Rs 2.24 crore, an increase of 183 per cent, for the first quarter ending June 30 compared Rs 79 lakh registered the corresponding period the previous year.

A company release here said it had clocked a record growth for the quarter, with the turnover increasing over 40 per cent to Rs 34.46 crore as against Rs 24.57 crore the same period the previous year.

There had been over 30 per cent volume growth across various products manufactured by the company, it said.

Besides, the company had also been able to reduce overhead cost and interest burden, resulting in higher growth in profit and earnings per share for the period, the release added.

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