Eicher Motors is trading higher by 3% at Rs 4,553 after reporting 118% year-on-year (yoy) growth in standalone net profit at Rs 74 crore for the fourth quarter ended December 31, 2013 (Q4), on back of higher sales. The auto maker had profit of Rs 34 crore in the same quarter year ago.
The company’s standalone net sales rose 78% yoy to Rs 525 crore in the quarter ended December 2013 as against Rs 295 crore during the previous quarter ended December 2012, Eicher Motors said in a statement.
The consolidated net profit of the company increased 31.5% at Rs 96 crore, while net sales grew 2% at Rs 1,664 crore on yoy basis.
Meanwhile, the board has recommended 300% dividend on the equity share capital (Rs 30 per share) for the year ended December 2013.
The stock opened at Rs 4,600 and touched a high of Rs 4,620 on the BSE. A combined 10,536 shares changed hands on the counter in early morning deals on the BSE and NSE.
The company’s standalone net sales rose 78% yoy to Rs 525 crore in the quarter ended December 2013 as against Rs 295 crore during the previous quarter ended December 2012, Eicher Motors said in a statement.
The consolidated net profit of the company increased 31.5% at Rs 96 crore, while net sales grew 2% at Rs 1,664 crore on yoy basis.
Meanwhile, the board has recommended 300% dividend on the equity share capital (Rs 30 per share) for the year ended December 2013.
The stock opened at Rs 4,600 and touched a high of Rs 4,620 on the BSE. A combined 10,536 shares changed hands on the counter in early morning deals on the BSE and NSE.