Eicher Motors Q1 profit jumps two-fold to Rs 611 cr; revenue rises 72%
Eicher Motors on Wednesday reported over twofold increase in consolidated net profit to Rs 611 crore for the first quarter ended June 30, driven by robust sales in the international markets.
The company had posted a net profit of Rs 237 crore in the June quarter of the last fiscal.
Revenue from operations rose to Rs 3,397 crore in the April-June period as compared with Rs 1,974 crore in the year-ago period, Eicher Motors said in a regulatory filing.
The company said its two-wheeler division Royal Enfield sold 1,86,032 motorcycles in the quarter, an increase of 52 per cent over 1,22,170 bikes sold in the June quarter of the last fiscal.
“Our international volumes continued to record consistent growth with more than 60 per cent increase as compared to the previous year. We have registered the highest ever quarterly revenues and EBITDA on the back of record international sales volumes,” Eicher Managing Director Siddhartha Lal noted.
Royal Enfield ended the first quarter with its best ever performance in the international markets with total dispatches of 28,390 units, an increase of 62 per cent over 17,493 units in the same period last year.
VECV, the company’s commercial vehicle joint venture with the Volvo Group, recorded its highest ever first quarter volumes, he added.
Shares of the company ended 1.28 per cent up at Rs 3,154.55 apiece on the BSE.
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