Eicher Q2 profit up 45% on strong bike, CV growth

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Published: October 29, 2016 6:19:05 AM

Riding high on a sharp growth in both motorcycle as well commercial vehicle segment, Eicher Motors Limited has reported a 45% growth

Riding high on a sharp growth in both motorcycle as well commercial vehicle segment, Eicher Motors Limited has reported a 45% growth in its consolidated net profit for the second quarter ended September 30, 2016 to Rs 413.20 crore as compared to Rs 284.60 crore in the same quarter previous fiscal.

The revenue during the quarter under review grew 35% to Rs 1,981 crore as against Rs 1,468 crore in the same quarter previous fiscal.

“Buoyed by an impressive 31% growth in motorcycles sale to 1,66,941 units (1,27,611 units) coupled with a sharp jump in CV sales to 13,408 units (11,657 units) as well as internal cost cutting exercises, we were able to post higher EBITDA margin at 31% as against 27% in the same quarter last fiscal,” said Siddhartha Lal, managing director and CEO, Eicher Motors Limited.

In a telephonic interaction Lal said: “It is an exciting quarter for us. We continue to witness demand for our motorcycles and some Classic range motorcyles have a waiting period of 3 months.

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