Eicher Motors today posted 59.76 per cent increase in consolidated net profit at Rs 153.77 crore for the quarter ended December 31, 2014.
The company had posted a net profit of Rs 96.25 crore for the same period of previous fiscal.
Net sales of the company rose to Rs 2,225.94 crore for the quarter, as compared to Rs 1,663.96 crore during the same period of previous fiscal, Eicher Motors said in a filing to the BSE.
For the year ended December 31, 2014, the company posted a consolidated net profit of Rs 615.36 crore, as against Rs 393.94 crore during the previous fiscal.
Net sales of the company for the year ended December 31, 2014, rose to Rs 8,598.70 crore, as against Rs 6,685.75 crore during the previous fiscal.
The company's board, which met today, approved a proposal to increase the aggregate foreign institutional investment limit, under the portfolio investment scheme, to 49 per cent of the company's total paid up share capital.
The board also recommended a 500 per cent dividend (Rs 50 per share), subject to approval of the shareholders.
The board also approved the changing of the company's financial year from January-December to April- March.
"The current financial year of the company will be of a period of 15 months commencing on January 1, 2015 and ending on March 31, 2016," it said in a filing.
Eicher Motors shares closed at Rs 16,242 apiece on the BSE, down 1.01 per cent from its previous close.
