Eicher Motors Q1 profit jumps 50% to Rs 918 crore; revenue up 18%
Eicher Motors said its revenue for the quarter rose 17.62 per cent YoY to Rs 3,912.07 crore from Rs 3,325.80 crore in the same quarter last year.
- Aug 3, 2023,
- Updated Aug 3, 2023 6:10 PM IST
Eicher Motors on Thursday reported a 50.38 per cent year-on-year rise in consolidated net profit at Rs 918.34 crore for the June quarter compared with Rs 610.66 crore in the same quarter last year. The profit figure was aided by other income, which stood at Rs 243.21 crore for the quarter compared with Rs 48.66 crore in the corresponding quarter last year.
Revenue for the quarter rose 17.62 per cent YoY to Rs 3,912.07 crore from Rs 3,325.80 crore in the same quarter year. This was the fourth consecutive quarter of highest-ever revenue from operations and profits for Eicher Motors. Ebitda for the quarter came in at Rs 1,021 crore, up 22.8 per cent over Rs 831 crore YoY.
The quarter saw Royal Enfield selling 2,25,368 (consolidated) motorcycles, an increase of 21.1 per cent from 1,86,032 (consolidated) motorcycles sold over the same period last year.
Managing Director & CEO Siddhartha Lal said the June quarter was significant for Eicher Motors, as both Royal Enfield and VECV registered their best ever first quarter performance, and recorded tremendous growth.
"At Royal Enfield, the Hunter 350 and Super Meteor 650 have significantly helped us in growing the market and continue to bring in a new set of consumers from across the globe, which has further increased the addressable market for us. As we continue to strengthen our product portfolio we have some really exciting and amazing motorcycles being launched in the forthcoming quarters," he said.
Eicher Motors reported its quarterly results post market hours. Earlier, the stock closed the day at Rs 3,380.10 on BSE, up 1.41 per cent.
Eicher Motors on Thursday reported a 50.38 per cent year-on-year rise in consolidated net profit at Rs 918.34 crore for the June quarter compared with Rs 610.66 crore in the same quarter last year. The profit figure was aided by other income, which stood at Rs 243.21 crore for the quarter compared with Rs 48.66 crore in the corresponding quarter last year.
Revenue for the quarter rose 17.62 per cent YoY to Rs 3,912.07 crore from Rs 3,325.80 crore in the same quarter year. This was the fourth consecutive quarter of highest-ever revenue from operations and profits for Eicher Motors. Ebitda for the quarter came in at Rs 1,021 crore, up 22.8 per cent over Rs 831 crore YoY.
The quarter saw Royal Enfield selling 2,25,368 (consolidated) motorcycles, an increase of 21.1 per cent from 1,86,032 (consolidated) motorcycles sold over the same period last year.
Managing Director & CEO Siddhartha Lal said the June quarter was significant for Eicher Motors, as both Royal Enfield and VECV registered their best ever first quarter performance, and recorded tremendous growth.
"At Royal Enfield, the Hunter 350 and Super Meteor 650 have significantly helped us in growing the market and continue to bring in a new set of consumers from across the globe, which has further increased the addressable market for us. As we continue to strengthen our product portfolio we have some really exciting and amazing motorcycles being launched in the forthcoming quarters," he said.
Eicher Motors reported its quarterly results post market hours. Earlier, the stock closed the day at Rs 3,380.10 on BSE, up 1.41 per cent.