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Eicher Motors scrip jump over 6% on encouraging Q1 earnings

Press Trust of India / Mumbai 29 Jul 16 | 01:10 PM

Eicher Motors' scrip on Friday jumped over 6 per cent after the company posted 58.61 per cent rise in consolidated net profit for the quarter ended June 30.

The scrip soared 6.2 per cent to Rs 22,382.15 - its 52-week high - on BSE.

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At NSE, shares of the company moved up 6 per cent to touch its one-year peak of Rs 22,376.25.

Eicher Motors on Thursday posted 58.61 per cent rise in consolidated net profit to Rs 376.29 crore for the quarter ended June 30, riding on robust sales across various business verticals.

It had posted a net profit of Rs 237.23 crore for the same period a year ago, Eicher Motors had said in a statement.

The company's total income from operations stood at Rs 1,555.69 crore for the April-June quarter of 2016-17 as against Rs 1,095.89 crore in the year-ago period.

Commenting on Royal Enfield's performance, Eicher Managing Director and CEO Siddhartha Lal said the company continues to take more orders than its monthly supply.

"Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally," he added.

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