Eicher Motors shares jump over 5% as sales rise to 59,127 units in October
Shares of Eicher Motors on Tuesday surged over 5% after the sales of motorcycles rose 33% to 59,127 units in October as compared to 44,522 units in October 2015.
At 1423 hours, the shares of the company were trading at Rs 25,289.85 per piece, up 5.28%, or Rs 1268.05 on BSE.
Company's exports jumped 95% to 748 units in the month of October as against 384 units during the same period last month. On year-to-date basis, i.e. from April 2016 till date, the company has exported 8,022 units, a rise of 58% as compared to 5,070 units from April 2015 to March 2016.
The sales of models with engine capacity upto 350cc grew by 35% to 55,188 units in October 2016 versus 40,800 units in October 2015. While, the sales of models with engine capacity exceeding 350 cc, rose by just 6% to 3,939 units in October as compared to 3,722 units last year in October.
Last week, on October 28, the company has said that its consolidated net profit for the quarter ended on September 30, 2015 stood at Rs 413.1 crore, a rise of 45.2% as compared to Rs 284.5 crore.
The company said that sales of Royal Enfield grew by 30.8% in Q2FY17. Domestic sales of trucks and buses were 11,262 units during the quarter as against 9511 units in Q2FY16.
In the regulatory filing, the company said its exports grew by 12.8% in Q2FY17.