The cash profit of the company has risen to Rs 137.20 crore, up 38 per cent, and the profit before tax has increased by 37 per cent to Rs 126.30 crore as against Rs 92 crore during the corresponding period of the previous year. The total revenue has gone up to Rs 693.50 crore from Rs 560.26 crore.

The net profit during the third quarter ended December has gone up to Rs 31 crore from Rs 22.80 crore while the revenue has risen to Rs 239 crore from Rs 191.36 crore. The results were well received by the market with the scrip rising Rs 36 at the National Stock Exchange to close at Rs 888. It touched a high of Rs 889.95 after opening at Rs 859.95 as against Monday's close of 852.

The company, which manufactures the Swarajbrand of tractors, said the performance was pushed by a 20 per cent growth in tractor volumes which reached 34,704 vehicles for the nine-month period.

Production for the 3rd quarter itself crossed the 13,000 mark for the first time and the offtake during this period was 12,182 vehicles, an increase of 22 % over the previous year's corresponding figure.