Automobiles maker Eicher Motors net profit jumps 58.61% to Rs 376.29 crores


New Delhi: On Thursday Automobiles maker Eicher Motors surges a 58.61 per cent increase in merge net profit at Rs. 376.29 crore for the quarter concluded June 30, having on robust sales crossways various commerce upright. The company conveyed in a statement that, net profit rise of Rs. 237.23 crore for the subsequent period a year previously. Earnings before interest, taxes, depreciation and amortization (EBITDA) margin improved to 30.2% in Q1 June 2016 from 26.1% in Q1 June 2015. Eicher Motors has started the new financial year on strong note and reported its best ever quarter results registering 42% growth and posting the highest ever quarterly income from operations at Rs 1556 crore for Q1 June 2016. Total income from process stood at Rs. 1,555.69 crore for the April-June quarter of 2016-17 as next to Rs. 1,095.89 crore in the year-ago period.

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Eicher Motors managing director and CEO Siddhartha Lal conveyed that, the corporation carries on to take more orders than its monthly supply. He also has further conveyed that, our immediate business viewpoint stay strong and Royal Enfield continues to expand constantly, competitively and gainfully towards foremost and expanding the mid-sized motorcycle segment globally. On the presentation of VE Commercial Vehicles, Mr Lal has conveyed that, VECV carries on to do well in the sub 5-ton grouping with the opening of Pro 1049 where it is presently selling more than 100 trucks every month as its introduce in the previous quarter. On the corporations 50:50 joint venture with Polaris Industries, Eicher Polaris Private, he has also further conveyed that, Multix is at present in 50 positions across 8 states and it continues to gain momentum in its target markets. On Thursday shares in Eicher Motors, concluded 3.64 per cent superior at Rs. 21,075.20 apiece on the BSE, whose benchmark Sensex index ended up 0.66 per cent. Eicher Motors owns the iconic Royal Enfield motorcycle business which leads the premium motorcycle segment in India. EML's joint venture with the Volvo group, VE Commercial Vehicles Limited, designs, manufactures and markets reliable, fuel-efficient trucks and buses; and is leading the path in driving modernization in commercial transportation in India and other developing markets.

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