1. Eicher Motors Q2 net profit rises 41%, thrust on Royal Enfield’s global sales

Eicher Motors Q2 net profit rises 41%, thrust on Royal Enfield’s global sales

Eicher Motors today reported 40.89 per cent rise in its consolidated net profit at Rs 221.83 crore for the second quarter ended June, 2015.

By: and | Updated: July 22, 2015 1:19 PM
Royal Enfield bikes

Royal Enfield motorcycle maker Eicher Motors on Tuesday reported 40.89 per cent rise in its consolidated net profit at Rs 221.83 crore for the second quarter ended June, 2015. (Reuters)

Royal Enfield motorcycle maker Eicher Motors on Tuesday reported 40.89 per cent rise in its consolidated net profit at Rs 221.83 crore for the second quarter ended June, 2015.

The company had posted a net profit of Rs 157.44 crore for the same period of previous fiscal.

Net sales of the company rose to Rs 2,871.54 crore for the second quarter, as against Rs 2,221.60 crore in the same period of previous financial year, Eicher Motors said in a filing to the BSE.

For the six months ended June 30, the company posted a consolidated net profit of Rs 417.12 crore, as compared to Rs 296.56 crore during the same period of previous fiscal.

Consolidated net sales of the company rose to Rs 5,404.51 crore during the second quarter, as against Rs 4,121.51 crore in the same period of previous fiscal.

“We continue to make investments as per our plans towards capacity expansion, enhancing our brand experience and in product development,” Siddhartha Lal, the company’s managing director was quoted as saying in the statement.

Royal Enfield, the two-wheeler arm of Eicher Motors, has acquired the UK-based Harris Performance Products, for an undisclosed sum in June 2015.

In order to accelerate Royal Enfield’s – two wheeler division – international thrust, Lal, will be relocating to UK for a year, starting August 2015.

This move will take him closer to Royal Enfield’s target markets, as well as to the new technical centre in UK, which is leading the development of motorcycles for international markets, the company said.

Eicher Motors shares on Tuesday ended 0.32 per cent up at Rs 21,336.55 apiece on the BSE.

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