NEW DELHI : Eicher Motors on Friday registered a 18.05% rise in consolidated net profit after tax to 544.84 crore for March 2019 quarter.

The company had reported a net profit after tax of 461.53 crore in the year-ago period.

Total revenue from operations for the quarter stood at 2,500.08 crore as against 2,528.01 crore in the same period of 2017-18, Eicher Motors said in a regulatory filing.

During the period under review, the maker of niche Royal Enfield bikes sold 1,97,567 units, down 13 per cent from 2,26,907 in the same period last year.

For 2018-19, the company posted a net profit after tax at 2,202.73 crore as compared to 1,959.67 crore in 2017-18.

Total revenue for 2018-19 was 9,797.06 crore as against 9,219.26 crore a year ago.

"The latter half of 2018 was a challenging period 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," Eicher Motors MD Siddhartha Lal said.

At Royal Enfield, the company recorded flat sales volume after several years of augmented sales growth, he added.

"Despite a challenging fourth quarter, the trend of premiumisation continues to show significant potential. We believe challenges are an opportunity to introspect and better ourselves," Lal said.

The company sold 8,22,724 Royal Enfield units during 2018-19, a marginal growth over 8,20,121 units in 2017-18.

The company's board recommended a dividend of 125 per share of face value of 10 each (1,250%) for the year ended March 31, 2019.

Eicher shares Friday ended 0.23 per cent up at 20,329.25 on the BSE.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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