Eicher Motors Q4 beats estimates, net profit surges 71% to Rs 334.5 cr

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Published: May 5, 2016 4:30:10 PM

Eicher Motors Q4 results: Net sales of the company surged 46.15 per cent to Rs 3,702.01 crore during the quarter under review as against Rs 2,532.97 crore in the year-ago period.

Eicher motors Q4 net profitEicher Motors Q4 results: Net sales of the company surged 46.15 per cent to Rs 3,702.01 crore during the quarter under review as against Rs 2,532.97 crore in the year-ago period.

Beating estimates, Eicher Motors on Thursday posted 71.3 per cent rise in consolidated net profit at Rs 334.5 crore for the quarter ended March 2016 on account of robust sales. It has net profit of Rs Rs 195.3 crore in the same period last year.

Net sales surged 46.15 per cent to Rs 3,702.01 crore during the quarter under review as against Rs 2,532.97 crore in the year-ago period, Eicher Motors said.

The revenue of the company jumped 46.6 per cent year-on-year at Rs 3764.90 cr.

According to Religare Capital markets, Eicher Motors margins and net profit beat estimates. The brokerage has a ‘Buy’ rating on Eicher Motors shares with a target price of Rs 22,300 cr.

The board has declared an interim of 1000 per cent on the quity share capital (Rs 100 per share) for the quarter ended March 2016. Eicher Motors has a face value of Rs 10 per share.

Shares of the company ended 0.30 per cent down at Rs 19,687.45 on Thursday.

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