Eicher Motors announced Q2FY23 results:
- For the quarter that ended September 30, 2022, Eicher Motors Ltd recorded total revenue from operations at Rs 3,519 crore
- EBITDA at Rs 822 crore
- Profit after tax at Rs 657 crore
- Royal Enfield ended the quarter with its strong performance in the domestic markets with total dispatches at 183,067 units, a more than 73.4% increase over 105,593 units in the same period last year.
Siddhartha Lal, Managing Director, Eicher Motors Ltd, said, “At the halfway mark, our overall performance has been very encouraging. We witnessed a great uptick in the momentum with the launch of the new Hunter 350. Further, we are super happy at having showcased our spectacular new cruiser, the Super Meteor 650 at EICMA, just earlier this week. This motorcycle immensely elevates our portfolio in the 650 twin category. On the commercial vehicles side, VECV delivered its first large order of 40 Skyline Pro E electric buses to the prestigious city of Chandigarh. During the quarter we also strengthened our market share in the Heavy Duty trucks and buses segment while launching a slate of new products and improving our distribution reach. At EML, our business performance has been quite promising and we continue to focus on the next stage of our growth with a robust ESG vision.”
B Govindarajan, CEO, Royal Enfield, and Wholetime Director, EML, said, “In this quarter, we saw excellent performance. We registered 65% growth over the corresponding period last year, with motorcycles across the portfolio showing an uptick in demand. Our newest motorcycle on the block--the remixed Roadster, Hunter 350--has seen extremely positive consumer response. We have registered healthy growth in the festive season and are confident of continuing this trend over the next quarter as well. In October, we registered our highest-ever sales in a month with 80,792 motorcycles and a growth of 79% over the same period last year. We are gearing up to bring great motorcycles and motorcycling experiences to our consumers. While we have unveiled the Super Meteor 650 in Milan this week, we are also preparing for a spectacular comeback of Rider Mania later this month.”