Eicher Motors stock jumps nearly 1 pc after June quarter earnings

Shares of Eicher Motors on Thursday gained nearly 1 per cent after the company posted strong earnings for the quarter ended June.

The stock went up by 0.65 per cent to settle at Rs 3,175 apiece on the BSE. During the day, the stock opened strong at Rs 3,249 and gained further ground to touch its 52-week high level of Rs 3,260.85.

On the NSE, it gained 0.71 per cent to settle at Rs 3,177 apiece.

In volume terms, 60,000 shares were traded on BSE and over 21 lakh shares on NSE during the day.

The 30-share BSE Sensex ended 515.31 points higher at 59,332.60 on Thursday.

On Wednesday, Eicher Motors reported an over two-fold increase in consolidated net profit at Rs 611 crore for the first quarter ended June 30, driven by robust sales in the international markets.

The company had posted a net profit of Rs 237 crore in the June quarter of the last fiscal.

Revenue from operations rose to Rs 3,397 crore in the April-June period compared to Rs 1,974 crore in the year-ago period, Eicher Motors had said in a regulatory filing.

''Our international volumes continued to record consistent growth with more than 60 per cent increase as compared to the previous year. We have registered the highest ever quarterly revenues and EBITDA on the back of record international sales volumes,'' Eicher Managing Director Siddhartha Lal noted.