The company's profit stood at ₹22.74 crore ($2.8 million) for the quarter ended Sept. 30, down from ₹32.15 crore, a year earlier.
Revenue from operations rose a marginal 0.3% to ₹234 crore, VST said.
Like the previous quarter, VST was hit by higher commodity costs in the latest quarter as well, with cost of materials increasing by 9.7%.
Sales volumes of power tillers, which accounted for roughly 84% of total volumes in the quarter, rose 2.2%.
Tractors sales volumes, which accounted for roughly 16% of total volumes, slid 27.4% from the year-ago quarter when the overall industry benefited from pent-up demand as COVID-19 lockdowns eased.
Analysts have said tractor sales came under pressure in the latest quarter due to uneven monsoon and a partial delay in kharif sowing.
