Eicher Motors Q3 profit rises 34% to ₹996 cr
Eicher Motors Q3 revenue surges 12% to ₹4,179 crore; EBITDA up 27%
Eicher Motors Q3 revenue surges 12% to ₹4,179 crore; EBITDA up 27%
In November, Eicher Motors sold 80,251 units of Royal Enfield motorcycles, up 13%, as against 70,766 units in the same period last year.
In October, the exports of VE Commercial Vehicles (VECV) declined by 43.5%.
The weakness in auto stocks was in sync with the broader market.
The Royal Enfield owner's stock has fallen 12.6% in the past five sessions following the launch of HD X440 and Speed 400 by Hero MotoCorp and Bajaj Auto, respectively.
This will provide comfortable working conditions for truck drivers, thereby improving their efficiency and addressing the problem of driver fatigue, says Nitin Gadkari
Share price of rival Eicher Motors, which makes Royal Enfield, has crashed 8.8% in 2 days. That of Hero and Bajaj have risen 8.4% and 6.3%.
The maker of Royal Enfield motorcycles registered its highest-ever quarterly revenue from operations at ₹3,804 crore.
The automaker's revenue from operations surged 29% to ₹3,721 crore in the third quarter compared with ₹2,880.65 crore in the year-ago period.
The Sensex and Nifty are poised for a strong opening on upbeat global cues as a better-than-expected inflation report in the U.S. boosted investors’ appetite for riskier assets.