Eicher Motors' profit in September quarter up y-o-y by 76%

11 Nov 2022 , 08:21 AM

The total net profit after tax for the September quarter at Eicher Motors increased by 76% year over year to Rs657 crore. Consolidated revenue increased by 56.5% YoY to Rs3,519.40 crore.

The strong operational performance also contributed to the bottom line. EBITDA, which stands for earnings before interest, taxes, depreciation, and amortization, climbed by 75% year over year to Rs821 crore, with margins sharply increasing by 246 basis points to 23.35%.

The operational performance was probably driven by a better mix and price increases, which counteracted the inflation in input costs. To reach Rs2,001.4 crore, input prices increased by 45% YoY.

The CV division of Eicher performed well because of the high demand for commercial vehicles. VE Commercial Vehicles’ (VECV) portion of the profit increased from Rs9.8 crore to Rs44 crore from the previous year. In comparison to a year before, the tax expenditure for the quarter was higher at Rs223.31 crore compared to Rs103 crore.

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