Eicher Motors dips on profit booking post Q2 results

The stock had hit a record high of Rs 21,620 on Tuesday, outperforming the market with gains of 45% in the past three months compared to a 1% rise in the CNX Nifty.

Shares of Eicher Motors were trading lower by nearly 3% at Rs 20,735 on the NSE on profit booking post April-June (Q2) quarter results.

Eicher Motors, the Royal Enfield maker, on Tuesday reported a 41% year-on-year (YoY) increase in consolidated net profit at Rs 222 crore for the second quarter ended June 30, 2015. The company had posted a net profit of Rs 157 crore for the corresponding period a year ago.

Net sales of the company during the quarter under review grew by 29% at Rs 2,872 crore on a Y-o-Y basis.

Analysts on an average had expected a net profit of Rs 250 crore on net sales of Rs 2,900 crore.

Meanwhile, the stock had touched a lifetime high of Rs 21,620 on Tuesday,  outperforming the market with gains of 45% in the past three months compared to a 1% rise in the CNX Nifty.

At 09:53 AM, the stock was down 2% at Rs 20,861 on the NSE and has seen a combined 28,566 shares changing hands on the counter on the NSE and BSE.