Royal Enfield reports weak performance in March Quarter

Royal Enfield maker Eicher Motors Ltd reported weak performance for the March quarter (Q4). But said business is seeing a good recovery. The stock gained 1.3 percent in Monday morning trade. Revenue and operating earnings fell in the range of 12-37 percent. Operating profit margins dropped 7.8 percentage points to 19.6 percent, a record low. Royal Enfield’s manufacturing and retail operations were suspended between 23 March and 5 May complying with covid-19 restrictions.