Eicher Motors rises 3% despite fall in Q4 profit; ICICI Sec downgrades stk

Eicher Motor also announced a stock split of 10 shares for every share held

Shares of Eicher Motors rose 3 per cent to Rs 17,367.85 on the BSE even after the company reported a 44.22 per cent decline in March quarter (Q4FY20) consolidated profit after tax (PAT) at Rs 304 crore. Its consolidated total revenue from operations stood at Rs 2,208 crore for the quarter under consideration as against Rs 2,500 crore for the same period of the previous year.

Royal Enfield sold 1,63,083 motorcycles in the fourth quarter, a decline of 17 per cent from 1,97,567 motorcycles sold over the corresponding period in the last financial year, the company said.

For the financial year 2019-20,