Business Daily from THE HINDU group of publications
Tuesday, Oct 23, 2007
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Business Daily from THE HINDU group of publications Tuesday, Oct 23, 2007 ePaper | Mobile/PDA Version |
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Financial Performance Corporate Results - HCV/LCV/Tractors Eicher Motors net rises 18.4% in second quarter
Our Bureau New Delhi, Oct. 22 An overall growth across its light, medium and heavy commercial vehicles segment has led Eicher Motors Ltd to post a 18.4 per cent increase in its net profit for the second quarter ended September 2007 as against the same period last year. The company said that despite a slowdown in the commercial vehicles segment, it witnessed a growth mainly in its 16 and 20-tonne segment of heavy commercial vehicles. “New products and our entry in new segments have enabled us to grow higher volumes despite of negative industry growth,” said Mr Siddharatha Lal, Managing Director and CEO. 
He said that even while Eicher Motors was investing significantly in the heavy commercial vehicles segment, a growth in its topline had led to the company posting an increased net profit during the quarter. Eicher Motors recorded 80 per cent income from its commercial vehicles, 16.4 per cent from components business and 26 per cent from exports. During the first half of 2007, while the commercial vehicles industry for 5 tonnes and above had declined by 2.4 per cent, Eicher Motors grew at 12.9 per cent. Within the domestic heavy commercial truck segment, the industry’s growth declined by 16.6 per cent, but the company managed to grow by 38 per cent. More Stories on : Financial Performance | HCV/LCV/Tractors
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