Share of Eicher Motors declined 4% on Monday after the company’s PAT for the fourth quarter of FY19 dropped 16% yoy on Rs544.8cr.
Consolidated revenue for the quarter stood at Rs2,500.1cr, down 1.1% yoy (up 6.8% qoq). Due to subdued sales coupled with higher raw material cost and other expenses, EBITDA declined 14.1% yoy to Rs684.7cr. Thus, EBITDA margin contracted by 415bps yoy to 27.4%, the company said in a press note released after markets hours to the exchanges on Friday.
Motorcycle sales for Royal Enfield registered a decline of 13% yoy to 1,97,567 units. This was mainly on account of challenging H2FY19 for the two-wheeler industry in India with factors such as revision in insurance cost, increase in prices on account of new safety norms, affected consumer sentiment.
Consolidated revenue for the quarter stood at Rs2,500.1cr, down 1.1% yoy (up 6.8% qoq). Due to subdued sales coupled with higher raw material cost and other expenses, EBITDA declined 14.1% yoy to Rs684.7cr. Thus, EBITDA margin contracted by 415bps yoy to 27.4%, the company said in a press note released after markets hours to the exchanges on Friday.
Motorcycle sales for Royal Enfield registered a decline of 13% yoy to 1,97,567 units. This was mainly on account of challenging H2FY19 for the two-wheeler industry in India with factors such as revision in insurance cost, increase in prices on account of new safety norms, affected consumer sentiment.
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