The Royal Enfield motorcycles experienced a new growth cycle last month, both in domestic markets as exports. Eicher Motors, owner of the motorcycle brand, sold 59,127 units in India and exported 748 motorcycles, more than 384 units shipped out of India in October 2015.
In the domestic market, the company sold 58,379 units, 32.2% more than 44,138 units sold in October 2015, according to the regulatory dossier submitted by Eicher Motors to the Bombay Stock Exchange (BSE) on Tuesday.
For the quarter ended September 30, 2016 (Q2), Eicher Motors posted an increase of 52.6% in consolidated net profit to Rs 388 crore from Rs 254 crore in the corresponding period of last year. Net income rose to Rs 1,981 crore from Rs crore 1468.
In addition, the company also manufactures commercial vehicles in cooperation with Volvo (VE Commercial Vehicles, or VECV.
"VECV has demonstrated impressive performance in Q2 2016-17 with sales of 13.408 units, registering a growth of 15% compared to the same period of last year," said Siddhartha Lal, Managing Director and CEO Eicher Motors Ltd, another regulatory filing to BSE.
Other manufacturers of two wheels as Hero MotoCorp, TVS Motor Co., Honda Motorcycles and Scooters India (HMSI), Suzuki Motorcycles and Yamaha Motors India are yet to declare their sales volume data for October.
Shares of Eicher Motors were trading at Rs 24.787 each, up 3.19 per cent from their previous close.