Eicher Motor's Net Profit Up by 76.1% for December Quarter
Published On Feb 08, 2016
Eicher Motors, the commercial vehicle manufacturer, noted a 76.1 percent fortified net profit numbered at INR 280.8 crore for the third quarter. As told by the company in BSE filing, this Commercial vehicle manufacturer recorded a net profit of INR 153.77 crore in the year-ago period. Net sales recorded in this period were numbered at INR 3,247.91 crore, compared to the year-ago sales of INR 2,225.94 crore, which is around 45.91 percent high.
According to Eicher, its domestic sales stood at 10,480 units during the period of review over the last year’s quarter which were at 7,740 units, registering a growth of 35.4 percent. The total sales of VECV in December quarter were 12,687 units over the last fiscal year's 9492 units, which is 33.65 percent hike.
Quoting about the development Siddhartha Lal, CEO and MD, Eicher Motors, said, "This has been a stellar quarter for VECV, the best ever over the last couple of years. VECV has not just registered growth across its product segments, it has also outpaced the industry thereby gaining market share."
The company's motorcycle brand, Royal Enfield, recorded 1,25,690 units sale over last year with 82,215 units.
Mr. Lal said, "Royal Enfield continued with its strong performance in fourth quarter of 2015 despite being affected by one of the worst floods in Chennai in the last two months of 2015. We sold 4,52,759 motorcycles in 2015, registering a growth of 49.6 per cent over 2014,".
He further said that due to floods and the disruption at the manufacturing plants, the company has lost production of 11,200 motorcycles.