Eicher Motors reveals growth for this fiscal year

Eicher Motors recently announced its unaudited, unconsolidated financial results for the half year and second quarter, concluding in June 30 2014. The company has seen a growth of 34.5% in its total operating income. Its earnings before tax and interest are a strong 67.5%, and its profits after tax are 41.9%. When placed next to figures seen last year at the same period, this indicates formidable growth for the brand.

Its total operating income has risen by a stunning 95.4% from last year. Also, its earnings before tax have been bolstered by a massive 188.3%, and its profit after tax, 153.2%. In addition to this, the company has also seen good sales from its collaborated venture with the Volvo Group, VE Commercial Vehicles Limited. Under this brand, Eicher had sold 11027 units in 2013, and this figure has risen to 11495 for this season.

Mr Siddhartha Lal, managing director and CEO of Eicher Motors Limited commented on VECV's performance:

“Despite the continuous slump in commercial vehicle industry in the second quarter of 2014, VECV has increased its overall market share. In the 5-14 tonne segment VECV’s Eicher branded trucks has increased its quarterly market share from 28.7% to 32%. Eicher buses reported its market share at 19.4% in Q2 2014 as against 16.6% in Q2 2013. VECV has also done very well in exports; in Q2 2014, VECV sold 1977 units of Eicher branded trucks and buses as against 562 units in Q2 2013, registering a phenomenal growth of 251.8%.”