Eicher Motors reported its Q2 results on Wednesday after market close. The firm’s net profit met the estimates while revenue missed.
What Happened: The Royal Enfiled maker reported a 8.26% year-on-year increase in net profit to ₹1,100.33 crore. The two wheeler company posted a revenue of ₹4,263.07 crore, increasing 5.70% from the previous year.
Analysts predicted a ₹1,087.65 crore net profit and a ₹4,453.53 crore revenue.
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In the corresponding quarter of the previous year, the company had a ₹1,016.30 crore net profit and ₹4,033 crore revenue.
In the month of October, the Royal Enfield sales reached 1.10 lakh, increasing by 31% from the previous year. The company said this was the highest monthly sales figure in the history of the brand. While the domestic numbers grew 26%, exports increased 150%.
VECV, the commercial subsidiary of Eicher posted a 5% decline in sales to 7,112 units in October.
Price Action: Shares of Eicher Motors were down 2.94% to ₹4,598.80 on Wednesday.
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