 "Eicher Motors surges 5% as Q2 standalone profit doubles")
Eicher Motors has surged 5% to Rs 8,990 on the BSE after reporting a more-than-double standalone net profit at Rs 133 crore for the quarter ended June 2014 (Q2), on back of strong sales. The manufacturer of Royal Enfield motorcycle had posted a profit of Rs 53 crore in the same quarter last fiscal.
The standalone net sales of the company rose nearly two-fold to Rs 743 crore for the second quarter, as against Rs 373 crore a year ago.
"Royal Enfield continues its strong run in Q2 2014 with our best ever quarter results. We have registered a phenomenal year-on-year growth of 85%, selling 74,132 units in Q2 2014 compared to 40,040 units in Q2 2013," Eicher Motors managing director and CEO Siddhartha Lal said.
On consolidated basis, the company posted 70% rise in net profit at Rs 157 crore for the quarter ended June 2014, against Rs 92 crore for the corresponding period a year ago. Net sales grew 35% to Rs 2,222 crore on a yoy basis.
The stock opened at Rs 8,825 and touched a new high of Rs 8,995 on BSE. Around 38,520 shares changed hands on the counter till 1000 hours.
On NSE, the stock opened at Rs 8,810 and hit a high of Rs 8,999 so far. It touched a record high of Rs 9,090 on July 3 this year.
The standalone net sales of the company rose nearly two-fold to Rs 743 crore for the second quarter, as against Rs 373 crore a year ago.
"Royal Enfield continues its strong run in Q2 2014 with our best ever quarter results. We have registered a phenomenal year-on-year growth of 85%, selling 74,132 units in Q2 2014 compared to 40,040 units in Q2 2013," Eicher Motors managing director and CEO Siddhartha Lal said.
On consolidated basis, the company posted 70% rise in net profit at Rs 157 crore for the quarter ended June 2014, against Rs 92 crore for the corresponding period a year ago. Net sales grew 35% to Rs 2,222 crore on a yoy basis.
The stock opened at Rs 8,825 and touched a new high of Rs 8,995 on BSE. Around 38,520 shares changed hands on the counter till 1000 hours.
On NSE, the stock opened at Rs 8,810 and hit a high of Rs 8,999 so far. It touched a record high of Rs 9,090 on July 3 this year.