Eicher Motors Ltd. (EML) has reported improved results with a pick-up in performance in the quarter ended December 31, 2014. Profit after tax stood at Rs. 180.9 crores in Q4 2014, a growth of 49.3 per cent, as against Rs. 121.2 crores in Q4 2013. EBIT rose from 7.6 per cent to 10.6 per cent during the period.
For the consolidated business in CY 2014, EML Eicher Motors reported the best-ever total income from operations at Rs. 8,738.3 crores and the best-ever EBIT at 10.2 per cent.
Commenting on VECV, Mr. Siddhartha Lal, Managing Director & CEO, Eicher Motors Ltd., said: “After three years of the deep downturn, the CV industry seems to have bottomed out in Q4 of 2014 with early signs of revival seen in a few segments of the industry. We hope that this trend will strengthen and gain momentum in the coming years. I strongly believe that VECV is in a good position to take the maximum advantage of this recovery.”
During the downturn, VECV continued to implement its strategic initiatives with full force and, as a result, it is now ready with its Pro series of products for the entire 5-49 ton category. These products have been developed in full co-operation with the Volvo Group, adopting the relevant group technologies. Some of these products have already been introduced, and the remaining will get introduced in the current year. The customer response to these products has been very positive, Mr. Lal added.