Eicher Motors posted a consolidated net profit of 15.73 billion rupees ($167.08M) for the quarter ended September 30, missing analyst estimates. Profit rose 15% from 13.69 billion rupees a year earlier, falling short of the 16.26 billion rupee consensus compiled by LSEG. Rising raw material costs offset strong motorcycle sales during the period.
Eicher Motors Misses Q2 Profit Estimates
Indian automaker Eicher Motors missed quarterly profit estimates as surging raw material costs offset strong motorcycle sales. Consolidated net profit rose fifteen percent to fifteen point seven three billion rupees. Total revenue increased by over twenty percent.
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