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Eicher Motors dips 5% on profit booking post firm September quarter results

The management also indicated at expansion in gross margins in coming quarters as input cost normalises with no production constraint as this point in time

Eicher Motors, Classic 350 motorcycle

The key concern is the slow offtake of the 2021 Classic 350

SI Reporter Mumbai
Shares of Eicher Motors dipped 5 per cent to Rs 3,523.85 on the BSE in Friday’s intra-day trade due to profit booking after the Royal Enfield maker logged its highest-ever net profit in the September quarter (Q2FY23). 

The company's net profit for the quarter rose 76 per cent year-on-year (YoY) to Rs 657 crore on account of improved sales. This was also supported by higher than expected other income.

The stock fell 6 per cent from its intra-day high of Rs 3,740.75 today. While in the past six months, the stock has appreciated by nearly 50 per cent

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First Published: Nov 11 2022 | 12:47 PM IST

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