Eicher Motors Q2 Net Profit Up 45% At Rs 413 Crore

New Delhi: Commercial vehicles maker Eicher Motors today reported a 45.19 per cent rise in consolidated net profit at Rs 413.16 crore for the second quarter ended September 30, 2016.

The company had posted a net profit of Rs 284.56 crore during the July-September quarter a year-ago, Eicher Motors said in a BSE filing.

Its total consolidated income also rose to Rs 1,981.01 crore during the quarter under review from Rs 1,468.03 crore in the same period last fiscal, up 34.94 per cent.

Eicher Motors’ total expenses rose 28.95 per cent to Rs 1,474.68 crore during the three month period as against Rs 1,143.57 crore in the year-ago period.

Commenting on the performance Eicher Motors MD & CEO Siddhartha Lal said: “Eicher Motors has continued its strong run and reported its quarter results posting the highest ever quarterly income from operations at Rs 1,981 crore for Q2 FY 2016-17, a growth of 34.9 per cent over corresponding period of last year.”

“In this quarter, EML also recorded its highest ever and best-in- class EBITDA at 30.9 per cent,” he added.

Its two-wheeler arm Royal Enfield also posted a 30.8 per cent growth in the second quarter of 2016-17 by selling 1,66,941 units as against 1,27,611 units sold in the year ago period.

“Royal Enfield has maintained its strong volume growth in the second quarter of FY 2016-17 and we continue to take more orders than our monthly supply,” he said.

In the first half of FY 2016-17, Eicher Motors’ net profit grew 51.3 per cent to Rs 789.5 crore as against Rs 521.8 crore a year ago.

Its total income from operations in the first half of the current fiscal rose 38.1 per cent to Rs 3,735.5 crore as compared to Rs 2,704.3 crore in the same period last year.

Shares of Eicher Motors closed 2.21 per cent down at Rs 23,990 apiece on BSE.