Eicher Motors advances after strong Q1 performance

11 Aug 2022 , 10:04 AM

Total revenue from operations was recorded at Rs 3,397 crore, up 72% as compared to Rs 1,974 crore in the corresponding quarter of FY 2021-22. EBITDA was Rs 831 crore as compared to Rs 363 crore in the same quarter of the previous financial year. Royal Enfield sold 186,032 motorcycles in the quarter, an increase of 52% from 122,170 motorcycles sold over the same period in FY 2021-22. Siddhartha Lal, managing director, Eicher Motors, said, ?We have had an excellent quarter to begin this financial year. Our international volumes continued to record consistent growth with more than 60% increase as compared to the previous year. We have registered the highest ever quarterly revenues and EBITDA on the back of record international sales volumes. We recently launched the exciting new, neo-retro styled roadster, the Hunter 350. We just concluded the global launch and first ride programme in Bangkok with the worlds top press. There was tremendous energy and a very enthusiastic response for the motorcycle. VECV, our commercial vehicle joint venture with the Volvo Group, recorded its highest ever first quarter volumes. The quarter also witnessed the inauguration of the first electric city bus delivered to the city of Chandigarh.? B. Govindarajan, CEO – Royal Enfield and Wholetime Director, EML said, ?Continuing to work towards our vision of becoming a truly global motorcycle brand, our growth momentum at Royal Enfield continues to remain promising, spearheaded by some fantastic numbers from our international markets. With the upcoming festive season, uptick in market and consumer sentiment, and improvement in supply chain and part availability, we are confident about continued and sustained growth for Royal Enfield in forthcoming quarters.? Vinod Aggarwal, MD and CEO VECV said ?With the Indian Commercial Vehicle market on the recovery path supported by government spending in infrastructure and pent-up fleet replacement, there are huge opportunities in the market. It is heartening to note that we are developing well in all segments by following a customer centric approach, expanding our distribution network reach, and broadening our product range. Margins remained under pressure in the quarter largely due to high inflation in a competitive marketplace.? Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Swedens AB Volvo – Volvo Eicher Commercial Vehicles which operates in Indias commercial vehicle space. Powered by Capital Market – Live News