Escorts Ltd.’s tractor sales fell in July amid slowdown in monsoon activity.
Tractor sales dropped 47.6% month-on-month to 6,564 units, the company informed the exchanges. "The three-week slowdown in monsoon activity from mid-June to mid-July temporarily affected sowing of Kharif crops leading to some slowdown in sales in July," it said.
The company sold 6,055 units and 509 units in the domestic and overseas markets, respectively.
Escorts, however, said things should get better from here on as monsoon activity has returned to normal, and sowing has picked up in the last few days.
"Most of the dealerships are now open and are able to fully serve customers," the company said, adding commodity inflation continues to put pressure on its margin even as it implemented three price hikes in the last nine months.
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