Auto maker Eicher posts Q1 results; trading to open next week

Last Updated: Thu, Aug 09, 2018 17:21 hrs
Eicher Motors

New Delhi: Automaker Eicher Motors has informed exchange houses it's Q1 results.

The un-audited results for the quarter ending June 2018 have been reported on Thursday.

Brokerage house Kotak Securities in a report had expected Eicher to post net profit upwards of Rs 596.6 crore (29.8% up). Net Sales was expected to improve 25.4% y-o-y to upwards of Rs 2509.2 crore.

Profit before tax has been reported at 877.64 crores, while Net profit after tax stands at Rs 591.22 crores. A year ago, unaudited results reported Net profit after tax at Rs 494.33 crores.

Net sales were in line with expectations- Rs 2531.45 crores.

The results announced for the quarter ending June 2018 suggest the following:

1. Total revenue from operations has increased to Rs 2544.91 crores, from Rs 2529.77 (audited) in the corresponding quarter, a year ago.

2. Total Income stands at Rs 2670.9 crores from Rs 2614.61 (corresponding quarter year ago).

The trading window on the stock resumes on August 12. But being a Saturday, investors could buy into the stock only in the next week.

At close of trading hours on Thursday, the Eicher Motors stock was quoting 27484.25 on the Bombay Stock Exchange.

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