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Eicher Motors advances after November 2021 VECV sales grow 10% Y-o-Y

Capital Market 

Eicher Motors rallied 2.22% to Rs 2,423.90 after its subsidiary VE Commercial Vehicles (VECV) sold 4,085 units of commercial vehicles in November 2021, registering a growth of 10.1% on a year-on-year (Y-o-Y) basis from 3,710 units in November 2020.

VECV, the unlisted subsidiary of Eicher Motors, had sold 5,805 units of commercial vehicles in October 2021. On a sequential basis, the commercial vehicles sales are lower by 29.62% as compared to 5,805 units sold in October 2021.

During November 2021, the total domestic sales of Eicher trucks & buses increased by 3.5% to 3,184 units while total exports soared 65.5% to 783 units over November 2020. Sales of total Volvo trucks & buses, stood at 118 units in November 2021, recording a 20.8% fall over 149 units sold in November 2020.

On a consolidated basis, Eicher Motors' net profit jumped 8.7% to Rs 373.20 crore on 4.9% increase in net sales to Rs 2,216.40 crore in Q2 September 2021 over Q2 September 2020.

Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Wed, December 01 2021. 14:22 IST