Shares of Eicher Motors jumped over 3 per cent to hit a 52-week high in morning trade on Thursday after the company posted strong earnings for the quarter ended June 30.
On BSE, the stock opened strong at Rs 3,249 and gained further ground to touch its 52-week high level of Rs 3,260.85, registering a rise of 3.36 per cent over its previous closing price.
On the NSE the stock opened at Rs 3,256.00, then climbed to Rs 3,219.00, up 2.04 per cent over its last close.
Eicher Motors on Wednesday reported over two-fold increase in consolidated net profit to Rs 611 crore for the first quarter ended June 30, driven by robust sales in the international markets.
The company had posted a net profit of Rs 237 crore in the June quarter of the last fiscal.
Revenue from operations rose to Rs 3,397 crore in the April-June period compared to Rs 1,974 crore in the year-ago period, Eicher Motors said in a regulatory filing.
“Our international volumes continued to record consistent growth with more than 60 per cent increase as compared to the previous year. We have registered the highest ever quarterly revenues and EBITDA on the back of record international sales volumes,” Eicher Managing Director Siddhartha Lal noted. PTI DRR BAL BAL BAL
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