Eicher Motors Earnings Misses Estimates As Costs Surge

India’s Eicher Motors Ltd fell short of analysts’ estimates for quarterly revenue on Thursday, as costs jumped 50% at the Royal Enfield bike maker.

Eicher Motors Earnings Misses Estimates As Costs Surge

The firm’s consolidated internet income surged 76% year-on-year to 6.57 billion Indian rupees ($80.41 million) for the quarter finished Sept. 30, whilst earnings from functions rose 56.45% to 35.19 billion rupees.

Analysts on regular had anticipated a gain of 6.97 billion rupees and revenue of 36.49 billion rupees, according to Refinitiv IBES details.

Full bills soared to 28.32 billion rupees on increased raw materials and element expenses.

The Gurgaon-based corporation reported it sold 203,451 units of Royal Enfield motorcycles in the quarter, a 64.7% jump from a 12 months earlier.

The enterprise also posted a 16.4% rise in total revenue in its business motor vehicle phase, a joint enterprise with Sweden’s AB Volvo.

The company’s friends TVS Motor, Hero MotoCorp also missed quarterly earnings estimates, although Bajaj Auto conquer anticipations.