Eicher Motors' shares up 6% intraday on stellar Q1 profit

The shares of Eicher Motors rose over 6% on Friday in early trade after the company posted a 59% jump in its April-June quarter net profit. 

On Thursday, Eicher Motors reported a consolidated net profit of Rs 376.29 crore, up 58.61% from Rs 237.23 crore posted in the same period last year. 

On Thursday, Eicher Motors' shares hit an intraday high of Rs ​22,382.15, up 6.3% from Thursday's close of Rs 21,075.2​.

However, by 1021 hours, the stock came down from the day's high and was trading at Rs 21,829.50, up Rs 754.30 or 3.58% from previous day's close. 

"Our immediate business outlook remains strong and Royal Enfield continues to grow consistently, competitively and profitably towards leading and expanding the mid-sized motorcycle segment globally," Eicher Motors' CEO Siddhartha Lal said, according to a PTI report.

Riding on robust sales across segments, the company's today income from operations grew to 1,555.69 crore for the April-June quarter of 2016-17 as against Rs 1,095.89 crore in the year-ago period.