The Hindu Business Line : Eicher Motors net up 100 pc in Q4

EICHER Motors today announced a 100 per cent rise in net profit in the fourth quarter of the last fiscal at Rs 19.51 crore from Rs 9.75 crore in the same period in the previous year.

Gross sales during the quarter grew by 55.7 per cent to Rs 319.60 crore (Rs 205.29 crore in Q4 of the previous year) with vehicle sales recording a growth of 49.2 per cent at 5,529 units.

For the fiscal year 2003-2004, Eicher Motors Ltd (EML) has recorded gross sales of Rs 908.70 crore, a growth of 30.1 per cent over Rs 698.36 crore in the previous year.

The company sold 15,885 vehicles during the year representing a growth of 24.9 per cent in 2002-2003.

The net profit in fiscal 2003-04 grew by 24 per cent to Rs 46.45 crore from Rs 37.46 crore in the previous fiscal.

According to a company statement, the growth vehicle sales during the year would have been higher but for loss of sales during the second quarter due to disruption of supply of a key component on account of labour unrest at the vendor's end.

Commenting on EML's performance, Mr S. Sandilya, Group Chairman & CEO, Eicher Group, said: "We have been able to step up our volumes significantly during the last quarter to make up for some of the loss in volumes during the second quarter on account of disruption in supplies. The market continues to be buoyant and we expect to maintain the momentum in sales in the coming months."