Eicher Motors clocks 20 pc jump in Q1 net profit at Rs 1,101 crore

New Delhi, Aug 8 (IANS) Eicher Motors Ltd (EML), the parent company of Royal Enfield, on Thursday announced a 19.9 per cent increase in its consolidated net profit to Rs 1,101 crore for the first quarter (April-June) of 2024-25, as compared to Rs 918 crore during the same period last year.
For the Q1 FY 2024-25, the auto major reported revenue from operations at Rs 4,393 crore, up 10.2 per cent as compared to Rs 3,986 crore in the corresponding quarter of FY 2023-24, according to a company statement.
The company’s EBITDA was Rs 1,165 crore, up 14.1 per cent as compared to Rs 1,021 crore in the same quarter of the previous financial year.
During the quarter, Royal Enfield recorded sales of 2,27,736 motorcycles as compared to 2,25,368 motorcycles sold during the same period in FY 2023-24.
For the Q1 FY 2024-25, VE Commercial Vehicles recorded a revenue from operations of Rs 5,070 crore, up by 1.8 per cent over the previous year’s revenue of Rs 4,980 crore.
The net profit stood at Rs 319 crore as against Rs 181 crore last year.
Eicher Motors MD Siddhartha Lal said: “After a strong performance in FY24, we have started this year on a confident note, registering our best-ever quarterly financial performance with both Royal Enfield and VECV reporting steady growth.”
“At Royal Enfield, we launched the Guerrilla 450, our premium, modern roadster on the Sherpa platform. We believe the Guerrilla will be a game-changer in the category. We have a robust product calendar for the rest of the year as well, and are getting ready to launch the 2024 Classic very soon. Meanwhile, VE Commercial Vehicles recorded its best-ever first-quarter sales, gaining volumes in key segments, and reflecting its commitment to excellence and customer satisfaction,” he added.
–IANS
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