Eicher Motors Q3 net up 56% at Rs 286 cr

Profit driven up by sustained margin from Royal Enfield bullet motorcycles

Riding on a 56 per cent jump in motorcycle sales, Eicher Motors has reported a 54 per cent jump in consolidated net profit in the September quarter.

Net profit rose to a record Rs 286 crore, driven by sustained margin from Royal Enfield bullets. Net sales rose over 36 per cent to all-time high of Rs 3,074 crore.

"Royal Enfield continues to have a strong for its products and has a very strong order book. We are on track to produce 450,000 motorcycles by the end of this year," said Siddhartha Lal, managing director and chief executive officer.

The board of Eicher, which also produces commercial vehicles, today approved expansion of production capacity to 900,000 units a year by 2018.

The market, however, reacted negatively to the news. Eicher Motors stock declined 3.70% and was trading at Rs 17,037 on the BSE at 2.25 pm.