Eicher Motors announced a consolidated net profit of Rs 995.97 crore for the quarter ended December 31, 2023, marking a significant 34.43% year-on-year (YoY) rise. The automaker’s revenue also showed robust growth, climbing 12.28% from the previous year to reach Rs 4,115.6 crore in Q3FY24.
Eicher Motors’ results surpassed Moneycontrol’s estimates, which predicted a consolidated net profit of Rs 959.28 crore. According to the average of five brokerage estimates, the company was expected to achieve a 29.49% YoY increase in net profit to Rs 959.28 crore. Revenue projections anticipated a jump of 8.24% to Rs 4,027.74 crore.
As of 03:15 P.M. on Tuesday, Eicher’s stock on the BSE was trading 0.5% lower at Rs 3,851.
