Eicher Motors gains after declaring Q4 result

Eicher Motors rose 0.64% to Rs 30,500 at 11:48 IST on BSE after consolidated net profit rose 0.45% to Rs 461.53 crore on 35.05% rise in total income to Rs 2709.21 crore in Q4 March 2018 over Q4 March 2017.

The result was announced after market hours yesterday, 9 May 2018.

Meanwhile, the S&P BSE Sensex was up 55.46 points or 0.16% at 35,374.81.

On the BSE, 1,909 shares were traded on the counter so far as against the average daily volumes of 1,439 shares in the past two weeks. The stock had hit a high of Rs 31,159.55 and a low of Rs 30,100 so far during the day. The stock had hit a record high of Rs 33,483.95 on 8 September 2017. The stock had hit a 52-week low of Rs 26,000 on 29 January 2018.

The large-cap company has equity capital of Rs 27.26 crore. Face value per share is Rs 10.

Eicher Motors' consolidated earnings before interest, tax, depreciation and amortization (EBITDA) rose 36.3% to Rs 797 crore in Q4 March 2018 over Q4 March 2017. Profit after tax from continuing operations (PAT) rose 38.1% to Rs 649 crore in Q4 March 2018 over Q4 March 2017.

Eicher Motors said that on 9 March 2018, the board of directors of Eicher Polaris (EPPL), Eicher Motors' 50:50 joint venture with Polaris Inc., US, decided to wind down the operations of the EPPL. Consequently, the consolidated financial results include an amount of Rs 187.03 crore of exceptional nature representing the company's share of loss for Q4 March 2018. This is over and above the share of loss of Rs 124.95 crore recognised from the commencement of operation of the company in June 2015 31 till December 2017

Eicher Motors' board of directors has recommended dividend of Rs 110 per share for the financial year ended 31 March 2018.

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 - Volvo Eicher Commercial Vehicles (VECV) - which is driving modernization in India's commercial vehicle space, and in other developing countries.

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