The company had posted net profit of Rs 237 crore in the same period last fiscal.
Total revenues from operations rose 72% to Rs 3,397 crore in the period under review. Earnings before interest, tax, depreciation and amortisation (Ebitda) stood at Rs 831 crore compared to Rs 363 crore in the corresponding period of the last financial year.
Royal Enfield sold 186,032 motorcycles last 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.” With the upcoming festive season, uptick in market and consumer sentiment, and improvement in supply chain and part availability, the company is confident about continued and sustained growth for Royal Enfield in forthcoming quarters.
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, said Vinod Aggarwal, Managing Director at VECV. Margins though remained under pressure in the quarter largely due to high inflation in a competitive marketplace.
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