Eicher Motors logs 20% y-o-y growth in Q1 net profit

9 Aug 2024 , 02:51 PM

Eicher Motors Limited (EML) reported a total net profit of ₹1,101 Crore for the quarter ended June 30, 2024, up 20% year on year (YoY), driven by favourable commodity prices, inventory benefits, and good volume growth in the Royal Enfield (RE) segment. The previous year’s Profit After Tax (PAT) was ₹918 Crore.

The company’s overall revenue from operations amounted at ₹4,393 Crore, up 10.20% from ₹3,986 Crore in Q1FY24.

The company stated that its earnings before interest, taxes, depreciation, and amortisation, or EBITDA, increased 14.1% to ₹1,165.5 Crore in Q1FY25 from ₹1,021 Crore in Q1FY24. In the June quarter, it had a margin of 26.50%, up from 25.60% the previous year.

Royal Enfield, a major division of Eicher Motors, logged sales of 2,27,736 motorcycles in Q1 FY 2024-25, slightly more than the 2,25,368 motorcycles sold during the same period in FY 2023-24.

For the same period, VECV, another branch of Eicher Motors, reported ₹5,070 Crore in operating revenue, up 1.8% from the previous year’s ₹4,980 Crore. EBITDA for the first quarter was ₹385 Crore, compared to ₹387 Crore last year. Profit after tax increased to ₹319 Crore from ₹181 Crore the previous year. In fiscal year 25, VECV sold 19,702 vehicles, up from 19,571 in fiscal year 2024.

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