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08-03-2023 05:23 PM | Source: Reuters
India`s Eicher Motors Q1 profit beats estimates on higher motorcycle demand
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India's Eicher Motors reported a better-than-expected 50.4% jump in first-quarter profit on Thursday, aided by strong motorcycle sales amid a burgeoning demand for two-wheelers.
The Royal Enfield motorcycle maker's consolidated net profit rose to 9.18 billion rupees ($111 million) in the quarter ended June 30, from 6.11 billion rupees a year earlier.
Analysts, on average, had expected a profit of 8.50 billion rupees, according to Refinitiv data. ($1 = 82.7090 Indian rupees)
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