Eicher Motors logs 18% y-o-y growth in Q4 net profit

13 May 2024 , 11:29 AM

Eicher Motors Limited (EML) recorded an 18.2% increase in net profit at ₹1,070 Crore in the fourth quarter of this fiscal year, owing to better sales volumes, higher average selling prices (ASP), new launches, and low commodity costs. Royal Enfield’s profit after tax (PAT) for the fourth quarter of FY23 was ₹906 Crore.

The company’s revenue from operations increased by 11.87% year on year (YOY) to ₹4,256 Crore. The company’s revenue for the same time previous year was ₹3,804 Crore.

The results were in line with analysts’ projections, with the average estimate of eight brokerage firms forecasting the company’s net profit to increase to ₹1,013 Crore, up 12% from the previous year. According to the same forecasts, operating revenue will increase by 9% year on year to ₹4,166 Crore.

EML’s earnings before interest, tax, depreciation, and amortisation (EBITDA) were ₹1,129 Crore, up 20.88% from ₹934 Crore in the same quarter of the previous fiscal year.

During the quarter, Royal Enfield sold 227,925 motorcycles, increasing 6.17% from 214,685 motorcycles sold in FY 2022-23.

For the fiscal year ended March 31, 2024, EML’s total revenue from operations was ₹16,536 Crore, up 14.50% from ₹14,442 Crore in FY 2022-23.

The Siddhartha Lal-led company’s EBITDA was ₹4,327 Crore, up 25.65% from ₹3,444 Crore in FY23, while PAT was ₹4,001 Crore, up 37.31% from ₹2,914 Crore the previous year.

Its CV branch, Volvo Eicher VECV, generated ₹21,868 Crore in operating income, up 15.38% from the previous year’s ₹18,952 Crore. EBITDA for FY 2023-24 was ₹1,715 Crore, up 25.27% from ₹1,369 Crore in the previous year.

At around 10.54 AM, Eicher Motors was trading 0.36% lower at ₹4,641.25 per share, against the previous close of ₹4,657.85 on NSE.

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