Eicher Motors Q2 profit up 76% at Rs 657 crore

Eicher Motors posted healthy growth this quarter

Eicher Motors on Thursday said its consolidated profit after tax increased 76 per cent to Rs 657 crore in September quarter, aided by brisk sales across domestic and international markets.

The company had reported a net profit of Rs 373 crore for July-September 2021-22. Total revenue from operations increased to Rs 3,519 crore from Rs 2,250 crore in the year-ago period, Eicher Motors said in a regulatory filing.

Royal Enfield, a division of the company, sold 2,03,451 motorcycles in the quarter, an increase of 65 per cent from the year-ago period. Eicher Motors Managing Director Siddhartha Lal said the company’s overall performance was very encouraging in the first half of current fiscal year.

Royal Enfield CEO B Govindarajan said, "We have registered a healthy growth in the festive season and are confident of continuing this trend over the next quarter as well."

VE Commercial Vehicles (VECV) MD and CEO Vinod Aggarwal said the company strengthened market share, particularly in heavy duty truck and bus segments for both Eicher and Volvo brands during the quarter under review. Shares of the company on Thursday settled 0.83 per cent down at Rs 3,702 apiece on the BSE.