New Delhi-headquartered Eicher Motors said that profit from its Royal Enfield business (standalone) increased 54.2 per cent year-on-year to Rs 396.2 cr. Revenue grew by 35.5 per cent to Rs 1,988.6 cr in the quarter ended September 2016 compared with Rs 1,468 cr in corresponding period of last fiscal.

Profit and operational performance missed expectations of analysts but revenue was ahead of estimates. Profit was estimated at Rs 427 cr on revenue of Rs 1,772.9 cr and EBITDA at Rs 567 cr with margin at 31.9 per cent for the quarter, according to analysts polled by the media. EBITDA or earnings before interest, tax, depreciation and amortisation stood at Rs 552.8 cr and margin at 31.2 per cent in Q2.

Other income during the quarter increased 58.2 per cent to Rs 66.46 cr on yearly basis. Volume growth remained strong in Royal Enfield and commercial vehicle sales volumes in Q2. Royal Enfield volumes grew by 31 per cent YoY to 1.67 lac units and commercial vehicles sales increased 15 per cent YoY to 13,408 units during the quarter.

Commercial vehicle business profit during the quarter declined 3 per cent year-on-year to Rs 65.7 cr while revenue (including excise duty) increased 11.6 per cent to Rs 2,128 cr and the same (excluding excise duty) rose 10.6 per cent to Rs 1,972 cr. Eicher Motors said that heavy price discounting in commercial vehicle market has impacted margin in Q2. It expects 3^rd Royal Enfield plant in Chennai to be operational by Q2FY18.

Meanwhile, EICHER MOTORS share price closed trading 0.58 per cent lower at Rs.69 on the National Stock Exchange (NSE) today. For more details on the scrip and also financials and fundamentals of the company, please visit EICHER MOTORS share price history. Here you will also come across the resistance and support levels of the stock.

Source: www.dynamiclevels.com