Eicher Motors has posted a 12 per cent growth to Rs 32.30 crore in its standalone net profits for the quarter ending June 30, 2012, as compared to the corresponding quarter last year. Standalone net sales were up 53 per cent to Rs 253.62 crore in the period. Eicher follows a January to December financial year.

However, on a consolidated basis, the net profit was flat at Rs 76 crore, the same as that recorded in the June Quarter of last year. Consolidated net sales in the quarter went up 24 per cent to Rs 1,573 crore. EBITDA margins fell to 8.8 per cent, from 9.8 per cent in the same quarter last year.

Siddhartha Lal, Managing Director & CEO, said: “The last quarter has been very significant both in terms of strategic direction and focused execution. Our continued focus on product strategies and operational efficiencies in both the businesses, VECV and Royal Enfield, has helped us achieve growth in sales and profits, despite challenging market conditions.”

Volvo-Eicher Commercial Vehicles (VECV), an equal joint venture, sold 9 per cent more vehicles at 11,864 units under the Eicher Trucks and Buses (ETB) brand in the quarter. “ETB has recorded the highest ever quarterly market share of 4.8 per cent in the heavy duty segment. Further, in the bus segment ETB has registered the best ever quarterly volume with 2784 units being sold,” Lal said.

Bike division Royal Enfield saw sales grow 48 per cent in the quarter to 27,519 units. In July 2012, Royal Enfield, for the first time, crossed the milestone of producing and selling more than 10,000 units a month from the Tiruvottiyur, Chennai plant.

In July, Eicher also entered into an equal joint venture with US-based Polaris Industries for an entirely new segment. It will develop and manufacture passenger vehicles at a greenfield plant.

Eicher Motor shares at the BSE were down 0.07 per cent to Rs 2,081.15 on Thursday.

>roudra.b@thehindu.co.in

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