Eicher Motors shares hit new all-time high post Q1 results

By: | Updated: July 29, 2016 4:14 PM

Eicher Motors shares gained as much as 6.2 per cent in the early trade on Friday after the Royal Enfield maker reported 58.62 per cent rise in net profit at Rs 376.29 crore for the quarter ended June 30, 2016 against Rs 237.23 crore in the corresponding quarter a year ago.

BSE Sensex NSE Nifty Eicher MotorsEicher Motors shares gained as much as 6.2 per cent in the early trade on Friday after the Royal Enfield maker reported 58.62 per cent rise in net profit at Rs 376.29 crore for the quarter ended June 30, 2016 against Rs 237.23 crore in the corresponding quarter a year ago. (PTI)

Eicher Motors shares soared over 6 per cent on Friday and hit new all-time high of Rs 22,567 after the Royal Enfield maker reported 58.62 per cent rise in net profit at Rs 376.29 crore for the quarter ended June 30, 2016 against Rs 237.23 crore in the corresponding quarter a year ago. Net sales of the company jumped 42.04 per cent year-on-year to Rs 1549.74 crore in the quarter under review against Rs 1091.05 crore in the same quarter last year.

Shares of the company closed 6.60 per cent up at Rs 22465.80. The scrip opened the day at Rs 21,555 and touched a high and low of Rs 22,567 and Rs 21,526.05, respectively, in trade so far. Benchmark BSE Sensex settled 156 points down at 28,051.

Consolidated operating profit of Eicher Motors increased by 65.80 per cent year-on-year to Rs 517 crore for the quarter ended June 30, 2016 against Rs 311.83 crore in the corresponding quarter a year ago. Total expenditure of the company also increased by 33.98 per cent year-on-year to Rs 1,085.51 crore.

In the past one year, shares of Eicher Motors jumped by 8.17 per cent to Rs 21075.20 on July 28, whereas BSE Sensex gained 2.73 per cent during the same period.

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