Shares of Eicher Motors today gained nearly 6 per cent in morning trade after the company posted 70.53 per cent rise in consolidated net profit for the second quarter ended June 30.
Boosted by smart earnings, shares of the company jumped 5.69 per cent to Rs 9,087.80 — its 52-week high level on the BSE.
At 12.14 pm, the stock was trading at Rs 8,981.85, up Rs 383.80 or 4.46 per cent.
Eicher Motors had yesterday posted 70.53 per cent rise in consolidated net profit at Rs 157.44 crore for the second quarter ended June 30.
The company had reported a net profit of Rs 92.32 crore for the same period of previous fiscal.
Net sales of the company rose to Rs 2,221.60 crore for the second quarter, as against Rs 1,646.25 crore for the same period of previous fiscal, Eicher Motors Ltd had said in a filing to the BSE.
The company follows a January-December financial year.
For the six months ended June 30, the company posted a consolidated net profit of Rs 296.56 crore, as compared to Rs 190.26 crore during the same period of previous fiscal.
Net sales of the company for the six months ended June 30, rose to Rs 4,121.51 crore, as against Rs 3,354.85 crore in the previous fiscal.