Eicher Motors Shares Surge 8% on Strong Earnings

New Delhi, Nov 14 (PTI) Shares of Eicher Motors on Thursday jumped over 8 per cent after the firm said its consolidated profit after tax increased 8 per cent in the September 2024 quarter.

The stock soared 8.35 per cent to Rs 4,972.50 on the BSE.

At the NSE, it surged 8.37 per cent to Rs 4,973.

Eicher Motors on Wednesday said its consolidated profit after tax increased 8 per cent year-on-year to Rs 1,100 crore in the September 2024 quarter on the back of robust sales across business segments.

The automaker reported a Profit After Tax (PAT) of Rs 1,016 crore in the July-September quarter of last fiscal.

The company said it reported the best-ever second quarter revenue from operations at Rs 4,263 crore compared to Rs 4,115 crore a year ago.

During the second quarter, Royal Enfield recorded sales of 2,25,317 motorcycles against 2,29,496 vehicles sold during the same period in FY24.

Royal Enfield is a division of Eicher Motors.

"During this quarter, we have continued to sustain the momentum both at Royal Enfield and VECV," Eicher Motors Managing Director Siddhartha Lal said.