Eicher Motors Q3 results: Profit rises 62.4% on higher motorcycle sales

Total expenses rose 24.4% to 30.06 billion rupees, led by a 39% increase in the cost of raw materials and components

Eicher Motors scrip jump over 6% on encouraging Q1 earnings
Premium

Reuters
India's Eicher Motors Ltd, the maker of Royal Enfield motorcycles, posted a bigger-than-expected 62.4% jump in third-quarter profit on Tuesday, helped by higher motorcycle sales.
 
The company's consolidated net profit rose to 7.41 billion rupees ($89.6 million) in the three months ended Dec. 31, from 4.56 billion rupees a year ago.
 
Analysts, on average, had expected a profit of 7.24 billion rupees, according to Refinitiv data.
 
Sales of Royal Enfield, which generates most of Eicher's revenue, jumped 31% to 219,898 units. The company, in its earnings release, did not mention if it raised prices in the quarter.
 
Its peers, on

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 14 2023 | 6:13 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com