Eicher Motors December quarter profit rises 34% to Rs 996 crore

Eicher Motors, the Royal Enfield bike maker, on Tuesday reported net profit of Rs 996 crore in December quarter, marking an increase of 34 per cent from Rs 741 crore during the same period last year. The profit number came in better than estimates as LSEG estimate of Rs 989 crore.

Steady demand for its high-end Royal Enfield bikes aided December quarter earnings, analysts said.

Eicher Motors' revenue from operations advanced 12.3 per cent to Rs 4,179 crore from Rs 3,721 crore in the year ago period.

The Royal Enfield bike maker's earnings before interest, taxes, depreciation, and amortisation (EBITDA) also known as operating profit jumped 27 per cent to Rs 1,090 crore and its operating profit margin improved 310 basis points to 26.10 per cent.

Eicher Motors shares came under selling pressure post earnings announcement. The stock fell as much as 4.22 per cent from day's highest level to hit an intraday low of Rs 3,768.90.