Shares of this automobile company zoom after reporting a 74% rise in FY23 net profit!

As the financial season heats up, Eicher Motors reported results and recommended a final dividend of 3700%.  

Quarterly Performance:  

In comparison to the same quarter a year prior, the company's net profit for the fourth quarter which ended on March 31, 2023, increased by 48.42% to Rs 905.58 crore on a consolidated basis. In Q4FY23, the company's total revenue climbed by 21.09% to Rs 4,009.83 crore from the prior year.

The company reported a 65.34% increase in net profit for the year that ended on March 31, 2023, to Rs 2622.59 crore. In the year under review, the company's total revenue climbed by 39.04% to Rs 14706.48 crore from last year. 

On a consolidated basis, the firm recorded a 73.80% increase in net profit for the year ended March 31, 2023, from Rs 1,676.60 crore to Rs 2,913.94 crore. When compared to the year ended March 31, 2022, the company's total revenue climbed by 40.03%, reaching Rs 15,037.29 crore for the year under review. 

About the Dividend: 

Board recommended a final dividend of Rs 37 per equity share of the face value of Rs 1 each for the financial year ended March 31, 2023, subject to the approval of the shareholders at the 41st Annual General Meeting.  

Share Price Movement: 

In the last trading session, it closed at Rs 3,407.05 and today it opened at Rs 3,494. Currently, it is trading at Rs 3,600, up by 5.66% from the previous closing.  

The BSE group 'A' stock has touched a 52-week high of Rs 3,886.00 and a 52-week low of Rs 2,333.15. 

Company profile: 

Eicher Motors Limited is the flagship company of the Eicher Group in India and a leading player in the Indian automobile industry. The company's products range from Motorcycles, Commercial Vehicles and Engineering Components. It has brands like Royal Enfield and has JV with Volvo for commercial vehicles.