Shares of Eicher Motors jumped over 3 per cent to hit a 52-week high in morning trade on Thursday after the company posted strong earnings for Q1.
On BSE, the stock opened strong at ₹3,249 and gained further ground to touch its 52-week high level of ₹3,260.85, registering a rise of 3.36 per cent over its previous closing price.
On the NSE, the stock opened at ₹3,256.00, then climbed to ₹3,219.00, up 2.04 per cent over its last close.
Eicher Motors on Wednesday reported over two-fold increase in consolidated net profit to ₹611 crore for Q1, driven by robust sales in the international markets.
The company had posted a net profit of ₹237 crore in the June quarter of FY22.
Revenue from operations rose to ₹3,397 crore in the April-June period compared to ₹1,974 crore in the year-ago period, Eicher Motors said in a regulatory filing.
"Our international volumes continued to record consistent growth with more than 60 per cent increase as compared to the previous year. We have registered the highest ever quarterly revenues and EBITDA on the back of record international sales volumes," Eicher Managing Director, Siddhartha Lal noted.