Eicher Motors gains 5% on good Q1 results

The stock up 5% to Rs 28,975 on the BSE after the company reported 25% YoY growth in its consolidated net profit at Rs 5.76 billion in June quarter.

Eicher Motors has moved higher by 5% to Rs 28,975 on the BSE after the company reported 25% year-on-year (YoY) growth in its consolidated net profit at Rs 5.76 billion in June quarter (Q1FY19). It had profit of Rs 4.60 billion in the same quarter last fiscal.

During the quarter under review, Royal Enfield posted its best ever performance. Revenue from operations rose 27% YoY to a record Rs 25.48 billion in the quarter. The Ebitda (earnings before interest, tax, depreciation and amortization) margin increased to 31.8% in Q1FY19 from 31% in Q1FY18.

In the Commercial Vehicles (CV)