New Delhi, Nov 14 (PTI) Eicher Motors today reported 25.4per cent rise in its consolidated profit after tax to Rs 518crore for the second quarter ended September 30.
The company had reported PAT (profit after tax) of Rs 413crore for the same period of previous fiscal.
Total income from operations rose to Rs 2,167 crore forthe second quarter as compared to Rs 1,755 crore in the sameperiod of previous fiscal, Eicher Motors said in a statement.
The company's two wheeler arm Royal Enfield sold 2,02,744motorcycles, registering the best ever quarterly sales volumewith a growth of 21.7 per cent, as against 1,66,582 units soldin the same period last year.
Commenting on the recent unveiling of the Interceptor 650roadster and and the Continental GT 650 cafe racer, EicherMotors MD and CEO Siddhartha Lal said two models along withits existing portfolio would help the company expand the mid-weight (250-750cc) motorcycle segment globally.
Later in a conference call, Lal said the company has seta target to roll out 8.25 lakh bike units during the currentfiscal year.
When asked about new product launches, he said RoyalEnfield would not introduce new models till around 2020 whenBS VI emission norms come into play.
"There may be, however, launches of variants of thecurrent products," Lal said.
Commenting on the VE Commercial Vehicle's (VECV's)performance, Lal said with better price management andcontinued focus on material cost reductions, EBIDTA marginsfor the company improved by 100 basis points for the quarter.
"With reforms like GST, migration from BS III to BS IVemission norms behind now, the commercial vehicle industrystarted recovering in Q2 and VECV also registered a growth of12.4 per cent as compared to the corresponding quarter lastyear," he added.
VECV's total income from operations for the secondquarter stood at Rs 2,339 crore as compared to Rs 1,972 croreduring the same period last fiscal.
VE Commercial Vehicle is a joint venture between VolvoGroup and Eicher Motors.
PAT rose to Rs 95 crore for the second quarter as againstRs 66 crore in the previous fiscal.
Shares of Eicher Motors today ended 1.57 per cent down atRs 30,083.20 on the BSE. PTI MSS ADIBAL.
This is unedited, unformatted feed from the Press Trust of India wire.