Eicher Motor rallies post Q1 results; stock hits record high

NEW DELHI: Eicher Motors Ltd surged over 6 per cent in intraday trade on Tuesday to hit its 52-week high of Rs 3250, after the commercial vehicle maker posted better than expected consolidated profit after tax at Rs 132.8 crore for the quarter ended March 31.

Eicher Motors Ltd announced its Q1 FY13 results on 13th May 2013.

It had posted a net profit of Rs 163.4 crore in the corresponding quarter last year, Eicher Motors said in a statement. However, consolidated PAT increased by 34.68 per cent on QoQ basis but declined 10.61 per cent on YoY basis.

At 01:17 p.m.; Eicher Motor was trading 5.7 per cent higher at Rs 3233.10. It touched a 52-week high of Rs 3250 and a low of Rs 3084 in trade today.

The consolidated total income from operations, however, went up by 3.4 per cent to Rs 1,724.3 crore from Rs 1,668.2 crore in the year-ago period, it added.

The company’s consolidated net sales increased by 4.28 per cent and 3.36 per cent on QoQ and YoY basis respectively.

EBITDA declined by 5.40 per cent on YoY basis. EBITDA Margin of the company declined from 10.80% to 9.89% on YoY basis.