Royal Enfield motorcycles witnessed yet another round of growth last month, both in the domestic markets and exports. Eicher Motors, which owns the motorcycle brand, sold 59,127 units in India and exported 748 motorcycles, more than 384 units it shipped out of India in October 2015.
In the domestic market, the company sold 58,379 units, 32.2 percent more than 44,138 motorcycles sold in October 2015, according to regulatory filing by Eicher Motors to the Bombay Stock Exchange (BSE) on Tuesday.
Eicher Motors said that it has sold 3.73 lakh Royal Enfield motorcycles during April-October 2016, up 34 percent from 2.79 lakh units sold in the corresponding period last year.
For the quarter ended September 30, 2016 (Q2), Eicher Motors posted 52.6 percent rise in consolidated net profit to Rs 388 crore from Rs 254 crore in the corresponding period last year. Net income increased to Rs 1,981 crore from Rs 1,468 crore.
Besides, the company also manufacture commercial vehicles in collaboration with Volvo (VE Commercial Vehicles, or VECV.
""VECV has demonstrated an impressive performance in Q2 2016-17 with sales of 13,408 units, recording a growth of 15% over the corresponding period last year," Siddhartha Lal, Managing Director & CEO Eicher Motors Ltd said, in another regulatory filing to the BSE.
Other two-wheeler manufacturers such as Hero Motocorp, TVS Motor Co., Honda Motorcycle and Scooters India (HMSI), Suzuki Motorcycles and India Yamaha Motors are yet to declare their volume sales data for October.
Shares of Eicher Motors were trading at Rs 24,787 apiece, up 3.19 percent from their previous close.
