Eicher Motors Q3 Results: Profit Rises 34%, Beats Estimates
The Royal Enfield maker's consolidated net profit rose 34% to Rs 996 crore in the quarter ended December
Eicher Motors Ltd.'s profit rose in the third quarter due to higher sales and price increases.
The Royal Enfield maker's consolidated net profit rose 34% to Rs 996 crore in the quarter ended December, according to an exchange filing on Tuesday. That compares with the Rs 969-crore consensus estimate of analysts tracked by Bloomberg.
Eicher Motors Q3 FY24 Highlights (Consolidated, YoY)
Revenue rose 12% to Rs 4,179 crore (Bloomberg estimate: Rs 4,069 crore).
Ebitda grew 27% to Rs 1,090 crore (Bloomberg estimate: Rs 1,049.5 crore).
Ebitda margin stood at 26.08% versus 23.03% last year (Bloomberg estimate: 25.8%).
Royal Enfield's sales grew 3% to 2.28 lakh units in the quarter, while the commercial vehicle sales rose 14% to 20,706 units.
Shares of Eicher Motors were trading 1.17% lower at Rs 3,826.60 apiece on the NSE at 2:53 p.m., as compared with a 0.54% rise in the benchmark Nifty 50.
