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New Delhi: Gurugram-based Wednesday reported an increase of 7% in net profit at Rs 533 crore for the third quarter ended Dec 31, 2020 on back of an increase in volumes and average selling prices.
The company had registered net profit of Rs 499 crore in the corresponding period of the last financial year.
An ET Now Poll had estimated net profit to grow 8.3% to Rs 540 crore, and revenues to increase 20% to Rs 2850 crore last quarter.
Revenues from operations were up 19% to Rs 2828 crore in the period under review. Earnings before interest, tax, depreciation and amortization (Ebitda) rose 13% to Rs 672 crore. Ebitda margins contracted to 23.8% from 25% in the year-ago period due to a rise in input costs.
“Consumer sentiment and demand have improved, and this is reflected in our volumes for the quarter. At VECV, demand for commercial vehicles has been improving sequentially and we have seen encouraging performance during the quarter. At Royal Enfield as well, we saw encouraging pick up in demand and bookings over the quarter”, said Siddhartha Lal, managing director at Eicher Motors.
The company had registered net profit of Rs 499 crore in the corresponding period of the last financial year.
An ET Now Poll had estimated net profit to grow 8.3% to Rs 540 crore, and revenues to increase 20% to Rs 2850 crore last quarter.
Revenues from operations were up 19% to Rs 2828 crore in the period under review. Earnings before interest, tax, depreciation and amortization (Ebitda) rose 13% to Rs 672 crore. Ebitda margins contracted to 23.8% from 25% in the year-ago period due to a rise in input costs.
“Consumer sentiment and demand have improved, and this is reflected in our volumes for the quarter. At VECV, demand for commercial vehicles has been improving sequentially and we have seen encouraging performance during the quarter. At Royal Enfield as well, we saw encouraging pick up in demand and bookings over the quarter”, said Siddhartha Lal, managing director at Eicher Motors.
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