Eicher Motors Q2 net profit turns around at Rs 14.18 cr
New Delhi, Oct 24 (UNI) Eicher Motors Ltd (EML) today posted a turnaround in its net profit for the second quarter ended September 30, 2006, at Rs 14.18 crore in comparison to a loss of Rs 7.61 crore in the corresponding quarter last year.
The company's total income rose by 29 per cent at Rs 463.72 crore for Q2 FY07 as against Rs 359.02 crore during Q2 FY06.
The half-yearly profits stood at Rs 22.60 crore, with the company's total revenues touching Rs 854.13 crore as compared to Rs 753.51 crore for the corresponding period last year.
''Our ability to effectively reduce material costs and contain inflation has increased our revenue to expenditure ratio significantly,'' company's Managing Director and CEO Siddhartha Lal said.
The success of E2 range of LCVs, has not only increased our market share in the 7-11 tonne LCV segment from 30 per cent to 35 per cent (YTD), but has also strengthened our potential to penetrate the market, Mr Lal added.
Eicher Motors recently launched 10.80 trucks, 10.80 tipper chassis and the 10.59 CNG model in the LCV categogy while 20.15 air suspension bus chassis and the New Cruiser and Nova in the built-up bus category in the passenger segment.
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