Eicher Q4 net profit at Rs 462 cr

Eicher Motors today reported a consolidated net profit of Rs 462 crore for the fourth quarter ended on March 31, 2018.

The company had reported a net profit of Rs 459 crore during the same period of 2016-17.

Revenue from operations stood at Rs 2,528 crore for the fourth quarter against Rs 1,888 crore for the same period of previous fiscal, Eicher Motors said in a regulatory filing.

Eicher said sales for the quarter ended March 31, 2018 is net of Goods and Service Tax (GST) which was implemented in July last year and hence not comparable with the year-ago period.

The company further said that on March 9, 2018, the company's board decided to wind down the operations of the Eicher Polaris Pvt Ltd. Consequently, the consolidated financial results include an amount of Rs 187.03 crore of exceptional nature representing the company's share of loss for the quarter ended March 31, 2018.

For the year ended March 31, the company posted a net profit of Rs 1,960 crore. It stood at Rs 1,667 crore during the 2016-17 fiscal.

Revenue from operations for the year stood at Rs 8,965 crore for the fiscal ended March 31, 2018. It stood at Rs 7,033 crore in 2016-17.

The company's board, which met today, recommended a dividend of 1,100 per cent, Rs 110 per equity share of face value of Rs 10 each for the financial year ended March 31, 2018.

Shares of the company today ended 0.43 per cent down at Rs 30,305.45 on BSE.