Eicher Motors Q3 Results: Cons PAT rises 34% YoY to Rs 996 crore, beats estimates
Eicher Motors on Tuesday reported a strong 34.4% year-on-year (YoY) growth in consolidated net profit for the quarter ended December to Rs 996 crore, and this was tad higher than an ETNow poll of Rs 969 crore.
Consolidated revenue from operations rose 12.3% YoY to Rs 4,179 crore, which too, was above the estimated Rs 4,048 crore.
Sequentially, the topline rose just 1.6%, while the bottomline declined by 2%.
Operating profit, calculated as earnings before interest, taxes, depreciation and amortisation (EBITDA), grew 27% on year to Rs 1,090.43 crore, and was largely on expected lines. Operating margin expanded 305 basis points on year to 26.09%.
The share of profit from joint venture VE Commercial Vehicle improved considerably to Rs 114 crore in the quarter, from Rs 64 crore a year ago, on the back of strong demand for medium and heavy commercial vehicles.
Total expenses for the quarter, including finance cost, stood at Rs 3,249 crore, compared to Rs 3,006 crore a year ago. Raw material expenses rose to Rs 2,047 crore from Rs 1,961 crore a year ago, and Rs 2,282.40 crore a quarter ago.
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