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New Delhi, July 30

Tractor and agri machinery maker Escorts’ net profit more than doubled to Rs 22 crore for the third quarter ended June 30, from Rs 9.30 crore for the same period last year. Net sales during the period grew 10 per cent to Rs 582 crore (Rs 527.29 crore). According to Mr Nikhil Nanda, Joint Managing Director, Escorts, the company has benefited from cost compression programmes and improved production mix. Cost-cutting measures have so far resulted in a saving of Rs 45 cr ore and should result in a saving of Rs 100 crore by the end of its financial year in September, said Mr Nanda.

— Our Bureau

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