The company had posted a net profit of Rs 54.86 crore for the fourth quarter of the previous financial year, Eicher Motors said in a statement.

Consolidated total income from operations also jumped by 26.79 per cent to Rs 1,576.64 crore during the fourth quarter from Rs 1,243.51 crore in the year-ago period, it added.

For the entire 2011 financial year, the company's consolidated net profit surged by 63.44 per cent to Rs 308.77 crore from Rs 188.92 crore in the previous financial year, the statement said.

The firm's consolidated total income from operations also went up by 29.28 per cent to Rs 5,716 crore in 2011 from Rs 4,421.26 crore in 2010, it added.

The board of directors of the company has recommended a dividend of 160 per cent on equity shares of Rs 16 face value each.

Commenting on the performance, Eicher Motors Managing Director and CEO Siddhartha Lal told PTI: "The CV market in 2011 grew very well and we saw robust sales of our entire range of products. Our motorcycle business also contributed very well to overall performance."

The Eicher Trucks and Buses division (ETB) witnessed a 26.60 per cent rise in sales to 48,337 units in 2011 from 38,181 units in 2010.

On the Royal Enfield business, Lal said sales grew 42 per cent last year to 74,626 units.

He said as demand for the company's products is robust, capacity enhancement programmes are being undertaken across

all segments.

The company will increase its total output of commercial vehicles to 5,500-6,000 units per month by the end of 2012 from 4,500 units a month at present, he added.

Lal said the capacity of motorcycles will also be ramped up to 8,500 units every month by the end of this year from 7,000 units a month currently.

"While the growth sentiment in the market is currently not so strong, at Eicher we are committed to our investments in capacity expansion, product development and strategic projects," he said.