BENGALURU (Reuters) – India’s Eicher Motors, which makes the Royal Enfield brand of motorcycles, reported a bigger-than-expected first-quarter profit on Thursday, helped by sales of more expensive models such as the Himalayan 450.
The company’s profit rose almost 20% year-on-year to 11.01 billion rupees ($131.2 million) in the three months to June 30, beating analysts’ average estimate of 10.14 billion rupees, as per LSEG data. ($1 = 83.9290 Indian rupees)
(Reporting by Varun Hebbalalu in Bengaluru; Editing by Savio D’Souza)
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