Eicher Motors’ consolidated net profit rose 8.3 percent on-year to Rs 1,100 crore during the second quarter of this financial year as against Rs 1,016 crore in the year-ago period, meeting Street expectations. A Moneycontrol poll of brokerage estimates also pegged the automaker's second quarter net profit at Rs 1,100 crore during Q2 FY2024-25.
The New Delhi-headquartered firm's revenue from operations rose 3.6 percent to Rs 4,263 crore as compared to Rs 4,115 crore in the corresponding quarter of Q2 FY24. That fell short of the Moneycontrol poll estimate of Rs 4,418 crore.
The company's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter stood at Rs 1,088 crore, which was flat from last year's figure of Rs 1,087 crore. Its operating margin for the quarter stood at 25.5 percent from 26.4 percent during the same period last year.
Ahead of the results, Eicher Motors' share price fell 3.16 percent to end at Rs 4,588.7 per share on the NSE.
During the quarter, the company’s bikemaking arm Royal Enfield recorded sales of 2,25,317 motorcycles as compared to 2,29,496 motorcycles sold during the same period in FY 2023-24
“With an intent to disrupt and grow the electric motorcycle segment, we are approaching it with the same singularity, focus and unconventionality with which we have grown and energized the global mid-size segment over the last several years," said Siddhartha Lal, Managing Director of Eicher Motors. “On the commercial vehicle front, VE Commercial Vehicles delivered its best Q2 ever, with strengthened market shares in truck segments. This is commendable against the backdrop of lower industry volumes as compared to Q2 of last year.”
For Q2 FY 2024-25, VECV’s revenue from operations was Rs 5,538 crore, up by 8 percent over the previous year’s revenue of Rs 5,126 crore. EBITDA for the second quarter was Rs 395 crore as compared to Rs 402 crore last year. Profit after tax stood at Rs 209 crore as against Rs 187 crore last year. VECV recorded sales of 20,774 vehicles in the second quarter over 19,551 vehicles last year.
Vinod Aggarwal, MD and CEO - VECV said: “VECV delivered its highest ever second quarter sales during Q2 FY25 growing 6.2 percent over Q2 FY24 and attaining leadership in the Light and Medium Duty (LMD) segment during the quarter. This growth was against a drop in CV industry volumes of 10.8 percent in the same period and stands as a testament to our broad product range backed by fast-expanding network coverage focused on delivering uptime to
customers..”
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