Shares of Eicher Motors
gained 1% in intraday trade on Tuesday after the company posted robust results for the quarter ended December 2018.
Eicher Motors Ltd's (EML) consolidated numbers in Q3FY19 were lower than the consensus expectations, especially on the EBITDA and PAT fronts. Consolidated revenue in the quarter was in-line with expectation at Rs2,341.06cr, up 3.2% yoy (down 3% qoq). EBITDA declined 3.9% yoy (7% qoq) to Rs679.50cr, missing the expectations of Rs711cr. Read more.
Volume growth moderation in Royal Enfield (RE) over next couple of years, due to sufficient penetration may impact revenue. Waiting period for some of its popular RE models has been coming off and some models are now available off-the-shelf.
Eicher Motors Ltd is currently trading at Rs20,934.85 up by Rs260.15 or 1.26% from its previous closing of Rs20,674.70 on the BSE.
The scrip opened at Rs20,212 and has touched a high and low of Rs20,987.40 and Rs20,100 respectively. So far 63,052 (NSE+BSE) shares were traded on the counter.