Eicher Motors' Q2 consolidated profit declines 40% to Rs.343 crore
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MUMBAI, Nov. 12 -- Eicher Motors Ltd on Thursday reported a 40% decline in its consolidated net profit to Rs.343 crore in the September quarter. The company's revenue from operations in the quarter stood at Rs.2,134 crore, down 2.65% YoY on account of lower sales of Royal Enfield motorcycles and commercial vehicles.
Eicher Q2 earnings beat Bloomberg poll estimate, which expected the company to report profit at Rs.335 crore and revenue at Rs.2,092 crore.
The company sold 150,519 motorcycles in Q2 as against 166,709 units a year ago. It's CV unit, Volvo Eicher Commercial Vehicles (VECV) sold 8167 units in Q2, down 28% YoY.
According to Siddhartha Lal, managing director of Eicher Motors, Q2 witnessed a healthy demand and pick-up in busine...
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