VST Tillers Tractors’ Q3 revenue fell 13 percent to ₹ 16.95 billion.

Farm machinery maker VST Tillers Tractors Ltd (VST) reported a 13 per cent decline in net profit at ₹ 16.95 crore in the December quarter compared to ₹ 19.43 crore in the same quarter last year. Operating income fell by a fifth to ₹ 169.96 (₹ 213.69).

EBITDA for the December quarter was ₹ 27.70 billion, representing 14.7 percent of total revenue. In the third quarter of last year, the EBITDA percentage was 14.6 percent VST for the nine months ended December 2023, sales were ₹ 694.61 crore compared to ₹ 683.82 crore in the same period of the last year EBITDA rose 45 percent to ₹ 134.5 billion from ₹ 92.4 billion. Nine-month net profit rose 65 percent to ₹ 86.39 billion from ₹ 52.22 billion in the same period last year.

The company also grew by 38 percent in the export of tractors during the nine months of the 24th financial year. VST Zetor Pvt Ltd, a joint venture between the company and HTC Investments (owner of the Zetor brand), began operations during the quarter, the company announced in its press release. VST Tillers Tractors closed 3.27 percent higher at ₹ 3,058.25 on the BSE on Friday.

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