Eicher Motors Shares Gain After March Quarter Profit Rises 73%

Eicher Motors shares rose as much 4% to hit an intraday high of Rs 2,709.20 a day after it reported its March quarter earnings.

Shares of Royal Enfield motorcycle maker - Eicher Motors - rose as much 4 per cent to hit an intraday high of Rs 2,709.20 a day after it reported its March quarter earnings. Eicher Motors' net profit in March quarter jumped 73 per cent to Rs 526 crore from Rs 304 crore during the same period last year. During the quarter, Eicher Motors revenue from operations advanced 33 per cent to an all-time high of Rs 2,940 crore versus Rs 2,208 crore during the corresponding period a year ago. Its EBITDA (earnings before interest, tax, depreciation and amortization) also known as operating profit came in at Rs 634 crore. (Track Eicher Motors share price here) For the year ended March 31, 2021, Eicher Motors recorded total revenue from operations at Rs 8,720 crore, EBITDA at Rs 1,781 crore and profit after tax at Rs 1,347 crore, Eicher Motors said in a stock exchange filing. "During the year, Royal Enfield's retail footprint in India increased from 1,521 stores across 1,200 cities to 2,056 stores across 1,750 cities. With the launch of more than 100 dealerships and more than 430 studio stores in India during FY 2020-21, Royal Enfield has further grown its network across urban, as well as rural markets. Internationally, the company now has more than 130 exclusive stores, and a retail footprint of over 760 stores in more than 60 countries. Last year saw Royal Enfield foray into new markets such as Japan, Cambodia, Costa Rica, and Dominican Republic. The company also launched its first CKD unit (completely knocked down), in Buenos Aires, Argentina during the year.