Eicher Motors Limited (EML) has reported an 87.91 per cent jump in its net profit to Rs 120.26 crore in the quarter ended September, on account of rise in sales. Last year, the company had reported a net profit of Rs 64 crore in the corresponding period.
“This has been the best ever quarter for EML with record high total income from operations at Rs 1,451.3 crore, an increase of 32.1 per cent over the same period last year,” Mr Siddhartha Lal, Managing Director & CEO, Eicher Motors Limited, said.
On the numbers posted by Royal Enfield, Mr Lal said: “Our target was to produce and sell 7,000 motorcycles a month by the end of this calendar year. I am happy to share that we sold 7,025 motorcycles in September 2011. For year-to-date ending September 2011, our sales volume is up by 47.2 per cent with 55,617 units being sold.”
Commenting on VE Commercial Vehicle's performance, Mr Lal said, “Like the last quarter, Eicher Trucks and Buses division continues to outpace the industry with the unit volume growth of 27.2 per cent as compared to the industry growth of 10.3 per cent for year to date ending September 2011.”
The company's net sales also jumped 31.74 per cent to Rs 1,091.64 crore, against Rs 1,438.15 in the corresponding quarter last year.
Eicher Motors shares closed at Rs 1,724.80 apiece on the BSE Wednesday, down 0.47 per cent from its previous close.