Eicher Motors Q1 net up 59% on robust sales

Eicher Motors today posted 58.61 per cent rise in consolidated net profit to Rs 376.29 crore for the quarter ended June 30, riding on robust sales across various business verticals.
It had posted net profit of Rs 237.23 crore for the same period a year ago, Eicher Motors said in a statement.
The company's total income from operations stood at Rs 1,555.69 crore for the April-June quarter of 2016-17 as against Rs 1,095.89 crore in the year-ago period.
Commenting on Royal Enfield's performance, Eicher Managing Director and CEO Siddhartha Lal said the company continues to take more orders than its monthly supply.

"Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally," he added.
On VE Commercial Vehicles (VECV)'s performance, Lal said: "VECV continues to do well in the sub 5-ton category with the introduction of Pro 1049 where it is currently selling more than 100 trucks every month since its launch in the last quarter."
On the company's 50:50 joint venture with Polaris Industries, Eicher Polaris Private Ltd, he said: "Multix is now present in 50 locations across 8 states and it continues to gain momentum in its target markets."

Eicher Motors stock closed at Rs 21,075.20, up 3.64 per cent, on BSE.