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Informist, Friday, Nov. 1, 2024

 

--Eicher Motors: Oct total motorcycle sales 110,574 units, up 31% on yr

--Eicher Motors: Oct motorcycle exports 8,688 units, up 150% on year

 

MUMBAI – Eicher Motors Ltd. Friday said it had sold 110,574 motorcycles in October, the highest monthly sales at least since the beginning of the previous financial year. The sales in October were up 31% from the year-ago month and up 27% from the previous month, the company said in an exchange filing. The company's motorcycle exports jumped 150% in October to 8,688 units, marking the highest exports in the last seven months.

 

The New Delhi-based company's sales of motorcycles with an engine capacity up to 350cc rose 27% to 96,837 units in October, also the highest since the start of the previous financial year, from 76,075 units a year ago. The sales of motorcycles with engine capacity exceeding 350cc for October were also the highest since the start of the previous financial year. The company sold 13,727 motorcycles with engine capacity of more than 350cc in October, up 64% from 8,360 units sold a year ago.

 

While the company's monthly sales were high in the last two months, its cumulative sales for Apr-Oct were up only 4% on year at 564,467 due to weak sales in July. For Apr-Oct, sales of motorcycles with an engine capacity up to 350cc were almost flat at 484,028 units as fewer sales in July and May dragged down the higher sales growth in September and April. Sales of motorcycles with engine capacity exceeding 350cc were strong in Apr-Oct at 81,325 units, up 37.5% on year. Eicher's motorcycle exports rose 21% in Apr-Oct to 52,624 units. 

 

Eicher Motors had reported a consolidated net profit of INR 11.01 billion for the June quarter on consolidated revenue of INR 43.93 billion. On Thursday, shares of the company closed at INR 4,894.65 on the National Stock Exchange, up 0.5%.  End

 

Reported by Aman Aryan

Edited by Ashish Shirke

 

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