Eicher Motors riding high on robust Q3 earnings
The stock has rallied 60% since March this year on BSE versus 10% rise in benchmark index.
Eicher Motors has soared over 5% to Rs 4,225 on reporting a robust 63% year-on-year (yoy) jump in consolidated net profit at Rs 107 crore for the third quarter ended September 30, 2013 (Q3) mainly due to one-time other operating income of around Rs 53 crore.
The company had posted a net profit of Rs 66 crore during the same period of previous year.
Net sales grew 13% at Rs 1,662 crore during the third quarter, compared to Rs 1,471 crore during the same period of last year, Eicher Motors said in a filing to the BSE.
The EBITDA margin during the quarter has improved by 450bps yoy to 12% from 7.5% in the corresponding quarter of previous fiscal.
The stock opened at Rs 4,122 and touched a record high of Rs 4,249 on BSE. A combined 25,072 shares have changed hands on the counter till 1130 hours on BSE and NSE.
Meanwhile, the stock has outperformed the market by surging nearly 60% since March this year against 10% rise in benchmark index.
The company had posted a net profit of Rs 66 crore during the same period of previous year.
Net sales grew 13% at Rs 1,662 crore during the third quarter, compared to Rs 1,471 crore during the same period of last year, Eicher Motors said in a filing to the BSE.
The EBITDA margin during the quarter has improved by 450bps yoy to 12% from 7.5% in the corresponding quarter of previous fiscal.
The stock opened at Rs 4,122 and touched a record high of Rs 4,249 on BSE. A combined 25,072 shares have changed hands on the counter till 1130 hours on BSE and NSE.
Meanwhile, the stock has outperformed the market by surging nearly 60% since March this year against 10% rise in benchmark index.
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First Published: Nov 08 2013 | 11:41 AM IST