Eicher Motors Q4 net up 34 pc to Rs 460 cr

Eicher Motors today posted a 34.5 per cent rise in its consolidated net profit at Rs 460 crore for the fourth quarter ended March 31, 2017.
The company had posted a net profit of Rs 342 crore during the same period of previous fiscal.
Total income from operations rose to Rs 1,888 crore for the fourth quarter as against Rs 1,532 crore in the same period of previous fiscal, Eicher Motors said in a regulatory filing.
For the year ended March 31, the company posted a consolidated net profit of Rs 1,665 crore, up 45.7 per cent from Rs 1,143 crore in 2015-16.

The company posted its highest ever total income from operations at Rs 7,033 crore for the fiscal ended March 31, up 34.9 per cent from Rs 5,212 crore in the 2015-16 fiscal.
The company's board, which met today, recommended a dividend of 1000 per cent at Rs 100 per equity share of face value of Rs 10 each, for the fiscal ended March 31, 2017.

The company's joint venture with Volvo Group, VE Commercial Vehicles (VECV), posted a profit of Rs 116 crore for the fourth quarter as compared to Rs 6 crore in the same period of previous fiscal.

Income from operations increased to Rs 2,554 crore in the fourth quarter as compared with Rs 2,074 crore earlier.
Commenting on the performance of VECV, Eicher Motors MD and CEO Siddhartha Lal said the commercial vehicle industry had a tumultuous year in 2016-17 where a number of issues like demonetisation, rising fuel costs and BS-IV transition affected the demand.
"Despite these challenges, VECV outpaced the industry across all segments by recording a 12.6 per cent growth against the industry growth of 4 per cent and selling highest ever 58,604 units for the financial year," Lal added.
In line with previous years, VECV will be investing Rs 450 crore during the current fiscal in all areas of its business, Lal said.

"The advent of the new Goods and Service Tax GST regime will provide further impetus to sales of new range of modern Pro-Series trucks and VECV will be able to grow its market share further in the coming months," he added.
The company's two-wheeler division Royal Enfield sold 1,78,345 motorcycles in the fourth quarter, posting a growth of 20.8 per cent over 1,47,618 motorcycles sold in the same period last year.