Eicher Motors gains after good Q1 results

Eicher Motors rose 2.42% to Rs 28,150 at 9:27 IST on BSE after consolidated net profit rose 25.36% to Rs 576.18 crore on 27.24% rise in net sales to Rs 2534.29 crore in Q1 June 2018 over Q1 June 2017.

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

Meanwhile, the S&P BSE Sensex was down 49.69 points, or 0.13% to 37,974.68.

On the BSE, 2,108 shares were traded in the counter so far compared with average daily volumes of 2,201 shares in the past two weeks. The stock had hit a high of Rs 28,518.10 and a low of Rs 27,610.25 so far during the day. The stock hit a record high of Rs 33,483.95 on 8 September 2017. The stock hit a 52-week low of Rs 26,000 on 29 January 2018.

In the quarter ended June 2018, Royal Enfield posted its best ever performance. Royal Enfield sold 225,286 motorcycles in Q1 June 2018, registering a growth of 23% over 183,731 motorcycles sold in the same period last year.

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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