Eicher Motors Ltd reported its best-ever figures for total revenue, EBITDA, and Profit after Tax for the quarter ended June 30, 2024. The company achieved total revenue from operations of INR 4,393 crores, up 10%, with an EBITDA of INR 1,165 crores, up 14%, and a Profit after Tax of INR 1,101 crores, up 20%.
During the first quarter of FY 2024-25, Eicher Motors’ revenue from operations rose to INR 4,393 crores, a 10.2% increase from INR 3,986 crores in the previous year’s corresponding quarter. EBITDA climbed by 14.1% to INR 1,165 crores compared to INR 1,021 crores in the same period last year. Profit after Tax increased by 19.9% to INR 1,101 crores from INR 918 crores during the same period last year.
Royal Enfield, a key division of Eicher Motors, sold 2,27,736 motorcycles in Q1 FY 2024-25, slightly up from the 2,25,368 motorcycles sold during the same quarter in FY 2023-24.
For the same period, VECV, another division of Eicher Motors, reported a revenue from operations of INR 5,070 crores, reflecting a 1.8% increase over the previous year’s revenue of INR 4,980 crores. The EBITDA for the first quarter stood at INR 385 crores, compared to INR 387 crores last year. VECV’s Profit after Tax surged to INR 319 crores from INR 181 crores the previous year. The division also recorded sales of 19,702 vehicles in FY 2024-25, up from 19,571 vehicles in FY 2023-24.
Eicher Motors’ robust performance this quarter highlights the company’s continued growth and resilience.
Vinod Aggarwal, MD and CEO VECV said “VECV delivered its highest ever first quarter sales during Q1 FY25 growing 0.7% over Q1 FY24. This is a testament to our focus on delivering uptime to customers backed by a fast-expanding service and parts network. We took a significant step this quarter by forming a JV with iTriangle Infotech to develop next-gen surround services related to transportation business – building on our industry leading connected vehicle ecosystem. We also continued to deliver new products and variants in line with developments in the industry. During the quarter, margins remained under pressure due to a competitive market situation.”
Siddhartha Lal, Managing Director, Eicher Motors Ltd., said, “After a strong performance in FY24, we have started this year on a confident note, registering our best ever quarterly financial performance with both Royal Enfield and VECV reporting steady growth. At Royal Enfield, we launched the Guerrilla 450, our premium, modern roadster on the Sherpa platform. We believe the Guerrilla is a formidable motorcycle with strong potential and will be a gamechanger in the category. We have a robust product calendar for the rest of the year as well, and are getting ready to launch the 2024 Classic very soon. Meanwhile, VE Commercial Vehicles recorded its best ever first-quarter sales, gaining volumes in key segments, and reflecting its commitment to excellence and customer satisfaction”
