Eicher Motors Ltd on Friday reported a consolidated net profit of ₹216 crore for the first quarter ended March 31, 2015 up 38 per cent, compared with ₹156 crore in the corresponding period last year.
Total income of the company rose 33 per cent to ₹2,568 crore during the period from ₹1,924 crore during January-March 2014.
“Eicher Motors has continued its strong run and reported its best-ever quarter results registering 33.5 per cent growth and posting the highest-ever quarterly income from operations at ₹2,568 crore for first quarter 2015,” Siddhartha Lal, Managing Director and Chief Executive Officer, Eicher Motors, said.
The first quarter has been the best-ever quarter at Royal Enfield, Eicher Motors’ standalone business unit, with record sales of 92,845 units, a growth of 44.5 per cent over the first quarter of 2014, he said.
Volume growth
Commenting on Royal Enfield’s performance, Lal said Royal Enfield has maintained a very strong volume growth in the first quarter of 2015 and moves ahead with a healthy order book.
“Royal Enfield is working on new platforms and products that will fuel our growth in the coming years. It is also expanding its footprint in India and in key markets across the world, to build its presence globally,” he said.
On Volvo Eicher Commercial Vehicle’s (VECV) performance, he said the commercial vehicle industry has been on a recovery path in the first quarter of 2015 and VECV continues to do well and has ended the first quarter with sales of 11,020 units over 9,981 units in the first quarter of 2014.
“Eicher Motors 50:50 joint venture with Polaris Industries continues as per plans, meeting timelines and project milestones. The product will be launched in 2015,” Lal added.
Eicher Motors shares surged 6.26 per cent to Rs 15,722.20 on the BSE.