Eicher Motors Q3 Results: Eicher Motors posted a 7 per cent rise in net profit at Rs 532.6 crore in the third quarter of the current financial year compared to Rs 498.70 crore in the year-ago period. The company’s revenue from operations rose 19.3 per cent year-on-year to Rs 2,828.3 crore. The revenue from operations stood at Rs 2,371.01 crore in the year-ago period. According to the company’s regulatory filing to the BSE, its consolidated operating profit in the third quarter of the financial year rose 13.5 per cent on a year-on-year basis to Rs. 672 crore. The company’s total income in the quarter stood at Rs 2,953.30 crore, compared to Rs 2,505.71 crore in the year-ago quarter. Eicher Motors is the parent company of motorcycle brand Royal Enfield.
According to Eicher Motors’s statement, Royal Enfield sold 199,000 motorcycles in the quarter, an increase of five per cent from 189,000 motorcycles sold in the year-ago quarter.
“The third quarter has seen steady business growth and encouraging performance across the board. Consumer sentiment and demand have improved, and this is reflected in our volumes for the quarter,” said Siddhartha Lal, Managing Director of Eicher Motors Limited.
”This quarter, we launched the Meteor 350, an easy and accessible cruiser in India and across Europe, Thailand and Australia. The motorcycle has received excellent feedback from experts and consumers alike. In a bid to further grow our international markets, we launched our first flagship store in Tokyo, Japan, becoming the first Indian premium motorcycle brand to set up a standalone store in Japan,” he added.
Eicher Motors shares traded 1.83 per cent lower at Rs 2,893.90 on the BSE. The shares of Eicher Motors had opened the trading session at Rs 2,977.00 on the BSE and touched an intra day high and low of Rs 2,999.00 and Rs 2877.80 respectively so far.