VST Tillers shares rallies 14% to Rs 2,874 after strong Q4 show

The farm equipment maker posted a massive 81.7 percent year-on-year growth in profit at Rs 40.15 crore for the March quarter, boosted by strong operating and topline numbers.

Shares of VST Tillers Tractors spurted 14.22 percent to Rs 2,874 in morning trade on May 15 after the farm equipment maker posted a massive 81.7 percent year-on-year growth in profit at Rs 40.15 crore for the March quarter, boosted by strong operating and topline numbers.

Revenue from operations grew by 47.7 percent to Rs 322.6 crore, compared to Rs 218 crore in the same period of the previous fiscal, it said in a regulatory filing post market hours on May 12.

However, for the full financial year 2022-23, the company’s net profit slipped 7 per cent to Rs 92.37 crore, as against Rs 99.31 crore in FY22. Revenue from operations climbed 18 per cent to Rs 1,006 crore over previous year’s Rs 854 crore.

“VST has achieved highest ever sales of Power Tiller at 38,247 units in FY23 and export of tractors is continuously growing at 1,458 Tractors for FY23,” the company said in a statement.