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Home arrow News arrow Business News arrow Eicher Motors Limited records 8.9% QoQ growth on gross total income
Eicher Motors Limited records 8.9% QoQ growth on gross total income Print E-mail
Written by Vijay   
Monday, 27 July 2009
New Delhi: Eicher Motors Limited, the flagship company of the Eicher Group, has registered a gross total income for the quarter of 682.5 crore rupees, a QoQ growth of 8.9% over last year's gross total income for the quarter of 626.7 crore rupees.

Siddhartha Lal, Managing Director and CEO, Eicher Motors Limited, said, “Riding on significant and substantial cost-cutting measures as well as a gradual but steadily recovering CV market, Eicher has been able to post a manifold improvement in profitability, with the EBIT for this quarter at 49.1 crores as compared to 11.3 crores recorded in the same quarter, last year."

"Eicher has effectively managed the downturn phase and these financial results reflect our judicious approach to cash conservation and the intrinsic stability within all business areas of our organization," he added.

The company recorded a a QoQ growth of 490.61% on Profit after tax (PAT) at 31.3 crore rupees as against a PAT of 5.3 crore rupees and a a QoQ growth of 486.3% on Profit before tax (PBT) at 46.9 crore rupees as against a PBT of 8.0 crore rupees. EBIT for the quarter amounted to 49.1 crore rupees as against an EBIT of 11.4 crore rupees, a QoQ growth of 330.7%.

"The EBIT margins have been further boosted by the interest income accrued on surplus funds. After provision of taxes, the PAT for this quarter stood at 31.3 crores as against 5.3 crores in the corresponding quarter of the previous year. Royal Enfield’s sales volumes continue to surge, unaffected by the recent economic downturn. The first six months of this year recorded a sales growth of 20% over the corresponding period last year," said Siddhartha Lal.

 
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