Royal Enfield maker Eicher Motors' third quarter (October-December) consolidated profit grew by 2.4 percent year-on-year to Rs 533 crore with low revenue growth and weak operating income.
Profit in same quarter last year stood at Rs 530.9 crore.
Revenue from operations in Q3 increased 3.2 percent to Rs 2,341 crore year-on-year, but Royal Enfield sales volume declined 6 percent YoY against 3.6 percent rise in Q2.
The company sold 1.94 lakh units during the quarter ended December 2018.
At operating level, consolidated EBITDA (earnings before interest, tax, depreciation and amortisation) declined for the first time in last eight years and margin fell below 30 percent for the first time since March quarter 2016.
EBITDA dipped 3.9 percent year-on-year to Rs 679.5 crore and margin contracted 220 bps to 29 percent in Q3FY19.
Numbers were ahead of CNBC-TV18 poll estimates which were at Rs 497 crore on profit and Rs 2,270 crore on revenue. EBITDA was estimated at Rs 665 crore and margin at 29.2 percent for the quarter.
At 15:20 hours IST, the stock was quoting at Rs 20,600.00, down Rs 239.00, or 1.15 percent on the BSE.
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