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Eicher Motors share rises 4% after Q4 net profit climbs 73%

Eicher Motors share rises 4% after Q4 net profit climbs 73%

Eicher Motors share touched an intraday high of Rs 2,709.2 rising 3.99% against previous close of Rs 2,605 on BSE

Eicher Motors share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages. Eicher Motors share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

Eicher Motors share rose 4% today after the firm reported a 73 per cent jump in consolidated profit in Q4. The share touched an intraday high of Rs 2,709.2 rising 3.99% on BSE. Eicher Motors share is trading higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.

The large cap share has gained 64% in one year and risen 5.09% since the beginning of this year. Market cap of the firm rose to Rs 72,630 crore on BSE. Total 0.92 lakh shares changed hands amounting to turnover of Rs 24.51 crore. The share hit 52-week high of Rs 3,035.50 on January 22, 2021 and 52-week low of Rs 1,508 on May 28, 2020.

Profit after tax stood at Rs 526.14 crore in Q4 backed by better sales. In the fourth quarter of previous fiscal, the company posted a consolidated profit after tax of Rs 304.28 crore. Total revenue from operations in Q4 stood at Rs 2,940.33 crore compared with Rs 2,208.18 crore in the year-ago quarter.

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The group's two-wheeler arm Royal Enfield sold 2,03,343 motorcycles in last quarter, an rise of 25 per cent from 1,63,083 motorcycles sold over the same period in FY 2019-20.

The company's joint venture with Volvo, VE Commercial Vehicles (VECV), recorded growth of 56 per cent with volumes of 18,167 units against 11,629 units during the same period last year.

For the fiscal ended March 31, 2021 the company's consolidated profit after tax was down 26 per cent at Rs 1,346.89 crore compared to Rs 1,827.44 crore in 2019-20. Consolidated total revenue from operations for FY21 fell to Rs 8,720.35 crore against Rs 9,153.58 crore in FY20.

The company's board approved a dividend of Rs 17 per equity share of a face value of Rs 1 each for the financial year ended March 31, 2021.