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Eicher Motors declines after announcing Q1 results

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lost 4.04% to Rs 30,247.55 at 10:45 on after the company reported Q1 June 2017 after market hours yesterday, 9 August 2017.

Meanwhile, the S&P Sensex was down 137.91 points or 0.43% at 31,659.93.

On the BSE, 2,848 shares were traded on the counter so far as against the average daily volumes of 8,257 shares in the past one quarter. The stock had hit a high of Rs 31,500 and a low of Rs 30,099.90 so far during the day. The stock had hit a record high of Rs 32,464.95 on 8 August 2017 and a 52-week low of Rs 19,570.90 on 15 November 2016.

The stock had outperformed the market over the past one month till 9 August 2017, advancing 13.15% compared with the Sensex's 1.39% rise. The stock had also outperformed the market over the past one quarter, gaining 16.26% as against the Sensex's 6.23% rise. The scrip had also outperformed the market over the past one year, advancing 42.86% as against the Sensex's 13.22% rise.

The large-cap company has equity capital of Rs 27.22 crore. Face value per share is Rs 10.

Eicher Motors' consolidated net profit rose 31.9% to Rs 435 crore on 28.6% growth in total income from operations to Rs 2001 crore in Q1 June 2017 over Q1 June 2016. Earnings before interest, taxation, depreciation and amortization (EBITDA) rose 32.1% to Rs 621 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin edged up to 31% in Q1 June 2017, from 30.2% in Q1 June 2016.

Commenting on the Royal Enfield's performance, Siddhartha Lal, Managing Director and CEO of said that Royal Enfield has performed extremely well in Q1 June 2017 despite a number of issues in the domestic market like BS-IV transition and GST rollout that affected the industry. In the face of these challenges, Royal Enfield transitioned to the BS-IV norms with no BS-III inventory. It smoothly transitioned to GST regime without any disruptions, added Lal.

is a leading player in the Indian automotive space. owns the iconic Royal Enfield motorcycle business, which leads the premium motorcycle segment in India. The company's joint venture with the Volvo group, VE Commercial Vehicles, designs, manufactures and markets trucks and buses. The company's joint venture with US-based Polaris Industries Inc launched the Multix, a new 3-in-1 vehicle purpose built for the independent businessman in June 2015.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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