Eicher Motors shares tank practically 5% on weak Q1 numbers

NEW DELHI: Shares of Eicher Motors on Friday tanked practically 5 per cent after the corporate reported a consolidated internet lack of Rs 55 crore for the primary quarter ended June 30.
The inventory tumbled 4.54 per cent to Rs 20,686.05 on the BSE.
At the NSE, it plunged 4.57 per cent to Rs 20,682.
Eicher Motors on Thursday reported a consolidated internet lack of Rs 55 crore for the primary quarter ended June 30, as gross sales had been adversely hit on account of COVID-19 pandemic.
The firm had posted a internet revenue of Rs 452 crore in April-June interval of final fiscal.
Total income declined 66 per cent in first quarter to Rs 818 crore, as in contrast with Rs 2,382 crore in the identical interval of 2019-20, Eicher Motors stated in a press release.
“The earlier quarter put forth unprecedented challenges for the trade and for Eicher Motors. However, we consider that the long run potential for each Royal Enfield and VECV may be very promising,” Eicher Motors managing director Siddhartha Lal stated.

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