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Eicher Motors (EML) on Tuesday reported consolidated net profit of ₹518 crore for the second quarter ended September 30, up 25 per cent as compared with ₹413 crore in corresponding period last year.
The consolidated total income also rose by 23 per cent to ₹2,167 crore during the quarter as against ₹1,755 crore in July-September quarter previous year.
Royal Enfield posted its best ever performance in the second quarter and the company sold 2,02,744 motorcycles, registering the best ever quarterly sales volume with a growth of 22 per cent as compared to 1,66,582 motorcycles sold in the same period last year.
“With better price management and continued focus on material cost reductions, EBIDTA margins for VECV improved by 100 basis points for the quarter. With reforms like GST, migration from BS III to BS IV emission norms behind now, the commercial vehicle industry started recovering in second quarter,” Siddhartha Lal, Managing Director and Chief Executive Officer, Eicher Motors, said.
VECV also registered a growth of 12 per cent as compared to the corresponding quarter last year. At the same time, the market continues to be highly competitive with heavy discounts continuing, he said.
Shares of Eicher Motors were trading at ₹30,097.75 on the BSE at 2.51 pm, down 1.52 per cent from the previous close.
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