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Eicher Motors Q1 profit grows 25% to Rs 576 crore, misses estimates

9 August, 2018 11:28 AM
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Eicher Motors Q1 profit grows 25% to Rs 576 crore, misses estimates

Eicher Motors, the two-wheeler and commercial vehicle manufacturer announced on August 9 that it posted a 25.3 percent rise in net profit in the June quarter.

The Delhi-based maker of Royal Enfield bikes posted a consolidated net profit of Rs 576.18 crore in the reporting quarter as against Rs 459.62 crore posted in the same quarter last year.

A Reuters poll of four analysts had estimated net profit to come in at Rs 597 crore.

The company’s consolidated revenue grew by 14.35 percent to Rs 2,534 crore during the reporting quarter as compared to Rs 2,216 crore posted in the same quarter last year.

Royal Enfield saw a volume surge of 22 percent to 225,361 units during the first quarter as against 183,998 units sold in the same quarter last year.

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Source: moneycontrol.com

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