New Delhi, Oct 27: Eicher Motors Ltd has reported a net profit of Rs 4.58 crore for the first six months ended September as compared to Rs 1.52 crore in the corresponding first half of 1998-99. Gross sales went up in the same period to Rs 146.62 crore from 113.27 per cent last year, a jump of 29.44 per cent.The company attributes the better results in the first six months to aggresive marketing approach and its focus on cost.
"Over the past year, we were the only player to record a growth in sales in the commercial vehicle industry," said Eicher Motors managing director Rakesh Kalra in a statement.
Eicher Motors sold 2,875 units in the first six months of the current financial year, compared to 2,305 units sold in the coresponding period last year.
The company posted a profit after tax of Rs 4.14 crore in the second quarter ended September 1999 compared to Rs 2.18 crore in the corresponding quarter of previous year.
Gross sales in the second quarter rose to Rs 88.25 crore from Rs 66.53 crore.
Eicher Motors is part of Rs 970 crore Eicher group which has diversified interests in manufacturing and marketing of commercial vehicles, trctors, motorcycles and gears.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.