Eicher Motors’ Q2 net profit zooms to ₹1,100 Crore

14 Nov 2024 , 09:30 AM

On Wednesday, November 13, Royal Enfield’s parent company, Eicher Motors Ltd., posted earnings for the September quarter. The company’s net profit for the second quarter increased to ₹1,100 Crore, up 8% y-o-y. Eicher Motors reported a net profit of ₹1,016 Crore in Q2FY24.

In the second quarter, revenue climbed by 3.6% to ₹4,263 Crore, falling short of the expected ₹4,452 Crore.

Eicher Motors reported that EBITDA for Q2FY25 was ₹1,087.7 Crore, consistent with last year’s number and falling short of projections of ₹1,185 Crore. Company’s EBITDA margin for the quarter came in at 25.5%, against 26.4% in the previous corresponding period.

During the quarter under review, Royal Enfield recorded sales of 2.25 lakh motorcycles, as compared to 2.29 lakh motorcycles in FY24.

In Q2FY25, VECV’s income from operations stood at ₹5,538 Crore, up 8% y-o-y against ₹5,126 Crore in the previous year’s same quarter.

Siddhartha Lal, Managing Director of Eicher Motors, stated, During this quarter, we have continued to sustain momentum at both Royal Enfield and VECV. At EICMA, the company introduced two motorcycles based on our 650 Twin platform: the Bear 650 and Classic 650. Furthermore, Royal Enfield announced its entry into the electric mobility market with the launch of a new EV brand, the Flying Flea.

On the commercial vehicle front, he stated that VE Commercial Vehicles had its best Q2 ever, with stronger market shares in the truck class. 

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