Eicher Motors on Friday reported a 38.5 per cent increase in its consolidated net profit at Rs.216 crore for the first quarter ended March 31, 2015 against Rs.156 crore in the corresponding period of the previous year.
Consolidated total income rose to Rs.2,568 crore, up 33.5 per cent, from Rs.1,924 cror, Eicher Motors said in a statement.
“With a record sales of 92,845 units (up 44.5 per cent), Royal Enfield has maintained a very strong volume growth in Q1 2015 and moves ahead with an extremely healthy order book. We are working very hard towards creating a truly differentiated motorcycling experience across the world,” Eicher Motors Managing Director and CEO Siddhartha Lal said.
The company is developing two new engine platforms on which multiple products could be launched. The new products would be in the range of 250 cc and 750 cc and we expect to see products introductions starting next year,” he told a conference call.
Mr. Lal said it would continue to make higher investments into brand, distribution and globally relevant products to achieve global leadership in the mid-size motorcycle category.
Commenting on the VECV business, the 50:50 joint venture with Volvo, Mr. Lal said “the entity continues to do well and has ended the first quarter with sales of 11,020 units, up 10.4 per cent from 9,981 units in the same period of last year.” — PTI
Philips Carbon in profit zone
Philips Carbon Black ended 2015-16 with a post tax profit of Rs.13 crore against Rs.86.5 crore loss in 2014-15, but suffered a sharp dip in its fourth quarter profit due to inventory write-down of Rs.12.6 crore on account of steep drop in crude prices.
The company makes carbon black for tyres and non-tyre applications and for speciality applications for plastics, polymers, inks and coatings. Its revenues increased by 8 per cent to touch Rs.2,485 crore in 2014-15.
PCBL Chairman Sanjiv Goenka said that the company was looking for opportunities to expand its base. It was also exploring additional sources of raw material, while reducing costs and increasing efficiencies.
He said that the proposed Vietnam project, was delayed due to some unfavourable duty structure. He declined to talk further on this saying that the focus now was on consolidation of domestic operations for at least six months.
With an installed capacity of 4.72 lakh tonnes, PCBL now has units in Durgapur (the largest), Mundra, Palej and Kochi. — Indrani Dutta
