Eicher Motors said it sold 58,439 units of Royal Enfield in February, a growth of 19 percent compared with 49,156 units sold in year-ago month.
The growth was largely driven by sales of models with engine capacity upto 350cc that increased 25 percent to 54,571 units in the month gone by.
The company missed expectations due to lower sales of models with engine capacity more than 350cc that fell 29 percent to 3,868 units year-on-year.
Motilal Oswal had expected the company to report 60,000 units sales.
Royal Enfield exports grew by 7 percent year-on-year to 1,702 units in February.Eicher Motors said sales in current financial year 2016-17 (April-February period) increased 33 percent to 6.06 lakh units while exports jumped 71 percent to 13,819 units compared with year-ago month.
At 11:48 hours IST, the stock was quoting at Rs 24,160.00, down Rs 9.05, or 0.04 percent on the BSE.
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