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Eicher Motors Q2FY20 Net Profit Jumps 18%

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Eicher Motors' net profit for theSeptember ended quarter of FY'20 scaled 18.5% to Rs. 570.5 crroe. The revenue at the company however came in lower by 9.2% at Rs. 2181.9 crore.

The earnings have come in better than estimated due to one time gain as well as due to the company's switch to a lower corporate tax rate.

Eicher Motors Q2FY20 Net Profit Jumps 18%
 

Earnings before interest, tax, depreciation and amortisation (EBITDA) fell 25.8% to Rs 546.1 crore, while EBITDA margin was dragged lower by 550 bps to 25.1%.

Other income stood at Rs 145 crore versus Rs 95.3 crore. Tax expense in Q2 stood at Rs 28.8 crore versus Rs 260 crore YoY.

The results have been good for the company despite a fall in the sale of its premium motorbike Royal Enfield. Also, the company in its commercial vehicle segment saw an increase in market share despite an overall decline in the industry volume.

After the disclosure of result, the stock was up by 1.855 or Rs. 396.40 at Rs 21, 827 on the BSE.

GoodReturns.in

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