Eicher Motors Ltd.'s profit rose in the third quarter due to higher sales and price increases.
The Royal Enfield maker's consolidated net profit rose 34% to Rs 996 crore in the quarter ended December, according to an exchange filing on Tuesday. That compares with the Rs 969-crore consensus estimate of analysts tracked by Bloomberg.
Eicher Motors Q3 FY24 Highlights (Consolidated, YoY)
Revenue rose 12% to Rs 4,179 crore (Bloomberg estimate: Rs 4,069 crore).
Ebitda grew 27% to Rs 1,090 crore (Bloomberg estimate: Rs 1,049.5 crore).
Ebitda margin stood at 26.08% versus 23.03% last year (Bloomberg estimate: 25.8%).
Royal Enfield's sales grew 3% to 2.28 lakh units in the quarter, while the commercial vehicle sales rose 14% to 20,706 units.
Shares of Eicher Motors were trading 1.17% lower at Rs 3,826.60 apiece on the NSE at 2:53 p.m., as compared with a 0.54% rise in the benchmark Nifty 50.
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