Riding strong sales of Royal Enfield motorcycles, Eicher Motors has reported 38.5% growth in net profit for the first quarter ended March.
Profit for the period stood at Rs 216 crore compared to Rs 156 crore in the same quarter last year. Total income from operations shot up 33.5% to Rs 2,568 crore against Rs 1,924 crore. With a sizeable order book for motorcycles, coupled with entry into newer export markets, the company has lined up Rs 500-crore investments to increase production capacity from 30,000 units to 50,000 units per month by setting up a new line and investing in technology development centres.
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