Eicher Motors falls 5% on weak June quarter performance
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Mumbai, Aug. 14 -- Shares of Eicher Motors fell as much as 5% as the company reported a consolidated loss of Rs.55.2 crore for the quarter ended June against a profit of Rs.451.8 crore in the corresponding period of the last fiscal.
At 12:15 pm, Eicher Motors stock was trading at Rs.20769.70, down 4.16% from its previous close, while the benchmark index, Sensex gained 0.33% to 38437.72.
Consolidated revenue declined significantly by 65.6% YoY to Rs.818.2 crore in the quarter. Hit by lockdown, volumes fell sharply though the company saw good demand recovery towards the end of the quarter.
Analysts at Motilal Oswal in a result note said, "New products would help expand the addressable markets and drive the next phase of growth for Royal ...
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