New Delhi : Eicher Motors reported a 71.3 % rise in its consolidated net profit at Rs 334.5 crore for the March quarter on account of robust sales in commercial vehicles and motorcycles divisions. The company plans to invest Rs 400 crore in VE Commercial Vehicles (VECV) segment for capacity expansion. Total income of the maker of Royal Enfield motorcycles rose by 46.6 % to Rs 3,764.9 crore.
Eicher Motors Managing Director & CEO Siddhartha Lal said the fourth quarter was one of the best quarters for the commercial vehicle industry in the last few years. “VECV had a stellar last quarter performance where it grew by 38.1 % outpacing the industry growth of 27.6 % in quarter ended March 2016,” he said. Besides, Royal Enfield also posted its best-ever sales performance in the March quarter. The niche bike maker sold 1,48,185 motorcycles, registering its best-ever quarterly sales and posting a growth of 59.6 % over 92,845 motorcycles sold in the same period last year.
Eicher Motors plans to invest Rs 600 crore for product development, setting up of two R&D centres and expansion of manufacturing capacities in India and UK. The company sells various popular models like Bullet, Classic, Thunderbird and Continental GT.
