[ad_1]
By Malvika Gurung
Investing.com — Shares of the bikes producer Eicher Motors (NS:) surged 6.45% to Rs 2,589.55 apiece at 1:35 pm on Monday, in response to wholesome earnings outcomes posted for the March quarter.
The corporate’s consolidated revenue after tax climbed 16% YoY to Rs 610 crore within the quarter ending March and surged 34% on a sequential foundation.
Its consolidated income grew 8.6% YoY to Rs 3,193 crore within the interval and 11% sequentially.
The Royal Enfield bikes producer’s quantity progress has rallied greater than 108% YoY in export markets in the course of the fiscal FY22. Its PAT jumped 25% YoY to Rs 1,677 crore within the yr, and consolidated revenues gained 18% YoY to Rs 10,298 crore within the given fiscal yr.
The expansion is because of the firm’s common promoting costs rising on a YoY foundation, led by a richer mannequin combine and value hikes taken over the previous few quarters.
Additional, Eicher Motors’ board of administrators permitted a dividend of Rs 21/share for FY22, paid inside 30 days from the date of shareholders’ approval.
Totally different brokerages have remained bullish on the two-wheeler inventory, given its wholesome efficiency within the quarter beneath focus.
[ad_2]
Source link