Eicher Motors rises on robust Q1 earnings

Plans to invest Rs 350 crore in Tamil Nadu for the period of 5 years.

Eicher Motors is trading higher by 4% at Rs 2,165 on reporting 51% year-on-year (y-o-y) growth in its consolidated net profit at Rs 110 crore for the quarter ended March 31. Total income from operations grew 22% at Rs 1,695 crore on y-o-y basis.

The company's motorcycle business -- Royal Enfield – saw its sales climbing by 41% to 23,899 units over the year-ago period.

Meanwhile, the commercial vehicle maker has signed a MoU with the government of Tamil Nadu to invest Rs 350 crore in the state for the period of 5 years.

A combined around 1,000 shares have changed hands on the counter in opening trades on both the exchanges.