Eicher Motors Q2 consolidated net profit rises by 76% to ₹656.86 cr
1 min read . Updated: 10 Nov 2022, 04:51 PM IST
Premium- The consolidated revenue from operations of Eicher Motors grew by 55.8 per cent to ₹3,453.43 crore
Eicher Motors on Thursday reported a 76 per cent rise in consolidated net profit to ₹656.86 crore in the September quarter. This is against a net profit of ₹373.20 crore in the year-ago period, the company said in a regulatory filing.
The consolidated revenue from operations of Eicher Motors grew by 55.8 per cent to ₹3,453.43 crore in the quarter under review from ₹2,216.40 crore a year ago.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 75% YoY to ₹821 crore.
The strong demand for commercial vehicles drove the performance of Eicher’s CV business. The share of profit from VE Commercial Vehicles (VECV) was ₹44 crore compared with ₹9.8 crore a year ago.
“At the halfway mark, our overall performance has been very encouraging, we have witnessed great uptick in the momentum with launch of new Hunter 350. On the commercial vehicles side, VECV delivered its first large order of 40 Skyline Pro E electric buses to the prestigious city of Chandigarh," said Siddhartha Lal, Managing Director, Eicher Motors
During the quarter we also strengthened our market share in the Heavy Duty trucks and buses segment while launching a slate of new products and improving our distribution reach. At EML, our business performance has been quite promising and we continue to focus on the next stage of our growth with a robust ESG vision," he further added.
Royal Enfield sold 203,451 motorcycles in the quarter, an increase of 64.7% from 123,515 motorcycles sold over the same period in FY 2021-22.
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The scrip ended 0.83 per cent down at ₹3,702 at BSE.
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