Eicher Motors Ltd.'s quarterly profit missed the lowest analyst estimate weighed down by a one-time loss on account of a failed joint venture.
Net profit stood flat at Rs 462 crore for the three-month period ending March, the parent company of Royal Enfield said in an exchange filing. That missed even the lowest analyst estimate of Rs 563 crore tracked by Bloomberg.
The automaker booked a Rs 311 crore impairment loss last quarter after it wound down a joint venture with Polaris Ltd, the statement said.
Its revenue rose 34 percent to Rs 2,530 crore from the same period year ago, matching the forecast. Earnings before interest, tax, depreciation and amortization came in at Rs 797.2 crore, while Ebitda margin stood at 31.5 percent, both slightly below estimate.