Eicher Motors Q3 results: Profit rises 62.4% on higher motorcycle sales

Total expenses rose 24.4% to 30.06 billion rupees, led by a 39% increase in the cost of raw materials and components

India's Eicher Motors Ltd, the maker of Royal Enfield motorcycles, posted a bigger-than-expected 62.4% jump in third-quarter profit on Tuesday, helped by higher motorcycle sales.
 

The company's consolidated net profit rose to 7.41 billion rupees ($89.6 million) in the three months ended Dec. 31, from 4.56 billion rupees a year ago.
 

Analysts, on average, had expected a profit of 7.24 billion rupees, according to Refinitiv data.
 

Sales of Royal Enfield, which generates most of Eicher's revenue, jumped 31% to 219,898 units. The company, in its earnings release, did not mention if it raised prices in the quarter.
 

Its peers, on