Eicher Motors rose 1.15% to Rs 2221.80 after the company said its total motorcycles sales rose 1% to 60,041 units in September 2020 from 59,500 units in September 2019.
Sequentially, total motorcycles sales jumped 19.73% in September 2020 from 50,144 units sold in August 2020.
While the sales of models with engine capacity upto 350cc rose 4% to 54,144 units, the sales of models with engine capacity exceeding 350cc declined 21% to 5,897 units in September 2020 over September 2019.
Total exports fell 11% to 4,131 units in September 2020 from 4,642 units in September 2019.
VE Commercial Vehicles, an unlisted subsidiary of Eicher Motors, announced that its total commercial vehicles (CV) sales declined 7.3% to 3,506 units in September 2020 from 3,784 units in September 2019.
Total CV sales surged by 41.54% last month from 2,477 units sold in August 2020.
While total domestic sales contracted by 6.4% to 2,940 units, total exports fell by 4.3% to 510 units in September 2020 over September 2019.
Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles (VECV) which operates in India's commercial vehicle space.
The company reported consolidated net loss of Rs 55.18 crore in Q1 June 2020 as compared to net profit of Rs 451.77 crore in Q1 June 2019. Total income fell 63.05% to Rs 932.39 crore in Q1 FY21 over Q1 FY20.
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