Eicher Motors gains 9 per cent, hits 52-week record high
Published On: Friday, November 13, 2020 | By: Team KnowMyStock
Shares of Eicher Motors Ltd., the owner of Royal Enfield, hit a fresh 52-week high of Rs 2,574 up 9 per cent on the BSE on Friday after the automaker declared its September quarter results..Eicher Motors on November 12 reported a 40 per cent decline in consolidated net profit at Rs 343.34 crore in the second quarter ended September 30. The company had posted a net profit of Rs 572.69 crore in the corresponding quarter last fiscal, Eicher Motors said in a regulatory filing. For the July-September quarter (Q2FY21), Eicher Motors’ total revenue from operations declined 3 per cent year-on-year (YoY) at Rs 2,134 crore as compared to Rs 2,192 crore in the corresponding quarter of the previous fiscal, due to a drop in volumes. The management said production levels are at 70,000 units/month now, while bookings number were encouraging at 1.25 lakh units, including 8,000 units for newly-launched Meteor.
"We have a robust order book and booking numbers are ahead of pre-Covid levels," Managing Director Siddhartha Lal said in a post earnings statement.
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