Royal Enfield maker Eicher Motors shares surged over 5 per cent on Friday after the company reported 76 per cent rise in consolidated net profit figures to Rs 270.80 crore the quarter ended December 2015. The company posted net profit of Rs 153.77 crore in the corresponding quarter a year ago.
At 12.44 pm, shares of Eicher Motors were trading 5.89 per cent up at Rs 17938.35. The scrip opened at Rs 17,100 and had touched a high and low of Rs 17980 and Rs 16924.15, respectively, in trade so far. Later, the scrip settled 7.01 per cent up at Rs 18128.45.
In the motorcycle segment, the company’s arm Royal Enfield posted sales of 1,25,690 units as against 82,215 units in the year-ago period, up 52.87 per cent.
“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,” Eicher Motors Managing Director & CEO Siddhartha Lal said.
He said the company had lost production of 11,200 motorcycles due to disruption at its manufacturing facilities because of the flood. The brand continues to have a robust demand for its products and has a very strong order book, Lal added.
Income from operations (net) of the company jumped 44.58 per cent year-on-year to Rs 3,316.57 crore during the quarter under review.