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New Delhi, July 25 Eicher Motors Ltd for the first quarter ended June 30 has reported a 32.18 per cent increase in net profit to Rs 11.13 crore (Rs 8.42 crore).

The net sales for the quarter grew 21.19 to Rs 464.35 crore (Rs 383.13 crore).

“Each of the core business have grown well and contributed to the top line growth of 20.3 per cent. In the commercial vehicle segment the industry has seen almost a flat volume growth of 0.6 per cent; in contrast Eicher’s volume growth has been 13.9 per cent. The new products in the domestic cargo segment, mainly the 25Tcowl and 16T tipper have fuelled the growth in the heavy commercial vehicle category,” Mr Siddhartha Lal, Chief Executive Officer and Managing Director, Eicher Motors Ltd, said in a release.

On the outlook, he said that the company’s operating margins may not show much improvement over the next quarter due to inflationary pressures and an extremely competitive environment.

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