Eicher clocks 22 per cent growth in profit

Commercial vehicles maker Eicher Motors reported a 22.14 per cent rise in consolidated net profit at Rs 459.62 crore for the first quarter ended June 30. It had posted a net profit of Rs 376.29 crore during the April-June quarter a year-ago. Revenue from sales grew 28 per cent to Rs 2,246 crore. During the quarter, the company sold 183,998 motorcycles, growing 25 per cent from the corresponding period of last year. During the quarter, the Royal Enfield bike maker sold 183,998 motorcycles, growing 25 per cent from the corresponding period of last year. The Ebitda margin for the quarter stood at 31 per cent against 30.2 per cent last year. Siddhartha Lal, managing director and CEO, said Royal Enfield has performed extremely well in the first quarter of FY18 despite BS-IV transition and the roll out of the goods and services tax.