Eicher Motors gains after declaring Q2 financials

Eicher Motors rose 0.56% to Rs 22,100.70 at 10:23 IST on BSE after consolidated net profit rose 5.93% to Rs 548.76 crore on 12.68% rise in total income to Rs 2579.29 crore in Q2 September 2018 over Q2 September 2017.

The announcement was made after market hours yesterday, 12 November 2018.

Meanwhile, the S&P BSE Sensex was down 10.35 points, or 0.03% to 34,802.64

On the BSE, 3,197 shares were traded in the counter so far compared with average daily volumes of 5,598 shares in the past two weeks. The stock had hit a high of Rs 22,289.25 and a low of Rs 21,200 so far during the day.

Royal Enfield's total revenue from operations rose 11% to Rs 2408 crore in Q2 September 2018 over Q2 September 2017. EBITDA rose 7% to Rs 729 crore. Profit after tax grew by 6% to Rs 549 crore. Royal Enfield sold 209,963 motorcycles in the quarter, registering a growth of 4% from 202,744 motorcycles sold in the same period last year.

In the Commercial Vehicles (CV) segment, VE Commercial Vehicles (VECV) revenue from operations rose by 27% to Rs 2966 crore in Q2 September 2018 over Q2 September 2017. EBITDA grew by 24% to Rs 267 crore. Profit after tax rose by 49% to Rs 142 crore.

Eicher Motors​ is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - VE Commercial Vehicles (VECV) - which is driving modernization in India's commercial vehicle space, and in other developing countries.

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