Bengaluru: Indian automaker Eicher Motors reported a better-than-expected third-quarter profit on Tuesday, on the back of steady demand for its premium Royal Enfield motorcycles and higher commercial vehicle sales.
The company's profit rose 34.4 per cent to Rs 996 crore in the three months to December 31, beating analysts' estimates of Rs 989 crore, as per LSEG data.
Eicher, India's largest premium motorcycle maker, and also its most profitable automaker, said revenue rose 12.3 per cent to Rs 4,179 crore.
The company derives most of its revenue from the sales of Royal Enfield motorcycles, its biggest business.
While Royal Enfield faces increasing competition in India from Bajaj-made Triumph models and the Hero-manufactured Harley Davison X440, its trusted brand name has helped it stay competitive, analysts said.
Eicher's commercial vehicle venture with Volvo benefited from higher sales and lower discounts, the analysts added.
Published 13 February 2024, 11:05 IST