Eicher: Royal Enfield drives the Q1 show

Record two-wheeler sales offset weakness in CV business

Eicher Motors’ June-quarter performance was led by the two-wheeler segment, or the Royal Enfield business. A 25 per cent increase in volume and a three per cent rise in selling price helped its standalone operations achieve the highest-ever quarterly sales of Rs 2,000 crore. This was 28 per cent higher than the year-ago number, and slightly above the Street’s estimate.
 
Given a strong top line and a rich product mix, operating profit was up 32 per cent to Rs 631 crore. Margins at 31.4 per cent were about 100 basis points higher than the year-ago quarter. Net profit, at