Eicher Motors Q2 PAT up 12% at Rs 125.8 cr

Eicher Motors Ltd reported 11.77 percent increase in profit after tax at Rs 125.8 crore for the second quarter ended June 30, driven by higher sales from Royal Enfield motorcycles and the bus division.

The company had reported profit after tax of Rs 112.55 crore in the same quarter of 2012-13 fiscal.
The Q2 net sales were at Rs 1,646.25 crore, an increase of 4.65 percent, compared with Rs 1,573.05 crore in the yea-ago period, the company said in BSE filing.
Eicher Motors Managing Director & CEO Siddhartha Lal said: "Despite the commercial vehicle (CV) industry continuing on its cyclical downward trend, VECV has outpaced the industry and improved its overall CV market share, particularly in the buses segment.
"Royal Enfield continues on a phenomenal growth trajectory with Q2 2013 registering the best ever quarter results."
Sales of Royal Enfield motorcycles jumped by 45.49 percent to 40,040 units during the quarter, as against 27,519 units in the same quarter last year.
Sales of VE Commercial Vehicles - Eicher's 50:50 joint venture with the Volvo Group - fell 8.23 percent at 11,027 units in the quarter, compared with 12,016 units in the same quarter last year.
The company sold 3,331 buses in Q2, 2013, registering a significant growth of 19.6 percent compared to 2,784 units over same period last year.
Overall, the expenses in the quarter were at Rs 1,533.29 crore, an increase of 4.72 percent as against Rs 1,464.15 crore in the same period a year ago.
Eicher Motors scrip closed at Rs 3,200.60, down 2.60 percent, on the BSE.