Shares of Eicher Motors have surged 5.5 per cent after the company reported its best consolidated net profit in a quarter at Rs 576 crore in the April-June period. The company's stock jumped 5.55 per cent to settle at Rs 29,010.65 on the BSE. Intra-day, it soared 6.16 per cent to Rs 29,177.70.
On the NSE, shares of the company advanced by 5.15 per cent to close at Rs 28,853. Eicher Motors reported its best consolidated net profit in a quarter at Rs 576 crore in the April-June period, driven by robust motorcycle sales.
The company posted 25 per cent rise in net profit in the first quarter ended June 30 from Rs 460 crore in April-June period of 2017-18. Consolidated total revenue from operations stood at Rs 2,548 crore for the quarter under review, the company's highest-ever so far in a quarter. It was at Rs 2,255 crore in the year-ago period.
During the period under review, the maker of niche Royal Enfield bikes sold 2,25,286 units, registering a growth of 23 per cent over 1,83,731 units in the same period of the last year. Royal Enfield had earlier sold out all 250 units of its recently launched limited edition Classic 500 Pegasus motorcycle in under three minutes – 178 seconds to be precise.