Eicher Motors reports 18% surge in quarterly profits, driven by strong sales

Eicher Motors has revealed a substantial 18 per cent increase in its consolidated profit after tax, reaching Rs 1,070 crore for the fourth quarter concluding in March 2024. This surge has been attributed to heightened sales figures during the period.

Comparatively, the company had recorded a profit after tax of Rs 906 crore during the same quarter of the previous year. According to a statement released by Eicher Motors, its total revenue witnessed a commendable 12 per cent rise, climbing to Rs 4,256 crore in the January-March quarter of FY24 from Rs 3,804 crore in the corresponding period of 2022-23.

Royal Enfield, the esteemed two-wheeler division under the Eicher Motors umbrella, reported sales of 2,27,925 motorcycles during the fourth quarter. This marks a notable 6 per cent increase from the 2,14,685 units sold during the same period in the previous fiscal year.

For the entirety of fiscal 2024, Eicher Motors disclosed a substantial 37 per cent surge in its profit after tax, amounting to Rs 4,001 crore in comparison to Rs 2,914 crore recorded in FY23. Moreover, the company’s revenue from operations witnessed a robust growth of 14.5 per cent, reaching Rs 16,536 crore from Rs 14,442 crore registered in the preceding fiscal year.

Royal Enfield’s performance also exhibited a positive trend, with registered sales experiencing a notable 9 per cent increase during the last fiscal year, climbing to 9,12,732 units from 8,34,895 units in FY23.

The company’s board has recommended a final dividend totalling Rs 1,396.41 crore at Rs 51 per share for the financial year concluding on March 31, 2024.

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