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NEW DELHI: Shares of Eicher Motors jumped 4.9% in early commerce Monday as buyers cheered a wholesome efficiency by the corporate within the final quarter of the earlier monetary 12 months.
The 2-wheeler auto main’s consolidated internet revenue after tax elevated by 16% to INR 610 crore for the fourth quarter ended March 31, 2022.
The corporate, which makes Royal Enfield Bikes, had reported a internet revenue after tax of INR 526 crore in January-March quarter of the 2020-21 fiscal.
The revenue determine compares to an ET Now ballot projection of INR 612.8 crore.
The corporate’s share value rose to a excessive of INR 2,555.45 as in opposition to INR 2,436 at earlier shut on the BSE.
Whole income from operations stood at INR 3,193.32 crore, up 8.60% in opposition to INR 2,940.33 crore the agency reported within the year-ago quarter.
The board of the corporate authorised dividend of INR 21 per fairness share for the monetary 12 months ended March 31, 2022. The dividend shall be paid inside 30 days from the date of shareholders’ approval, the corporate mentioned.
On a standalone foundation, which excludes the numbers for Royal Enfield’s overseas subsidiaries and three way partnership with Volvo, the corporate mentioned income from operations stood at INR 3,194.69 crore in opposition to INR 2,922.44 crore in the identical quarter final 12 months. Correspondingly, revenue determine was INR 553.38 crore in opposition to INR 468.08 crore.
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The corporate has elevated B Govindarajan as Chief Government Officer (CEO) of Royal Enfield. Govind has spent greater than 23 years throughout Royal Enfield and Eicher Motors. He has been the Government Director of Royal Enfield since August 2021, and was Chief Working Officer of the corporate since 2013.
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