Eicher Motors expects hit on Q1 profits due to COVID-19 lockdown

In a regulatory filing disclosing the impact of COVID-19 on its overall operations, the company however said it has adequate financial resources to run its operations smoothly, while it has successfully cleared all existing inventory of BS-IV motorcycles across channels and dealerships as on March 20, 2020.

PTI

July 29, 2020 / 10:28 PM IST

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Eicher Motors on Wednesday said its profitability for the first quarter of 2020-21 will be impacted due to the country-wide lockdown following the coronavirus pandemic.

In a regulatory filing disclosing the impact of COVID-19 on its overall operations, the company however said it has adequate financial resources to run its operations smoothly, while it has successfully cleared all existing inventory of BS-IV motorcycles across channels and dealerships as on March 20, 2020.

"In the months of April 2020, May 2020 and June 2020, the company could sell only 91 units, 19,113 units and 38,065 units, respectively. The definitive impact on Q1 2020-21 profitability and revenue will be announced post consideration and approval of Q1 2020-21 financial results by the board," Eicher Motors said.

Following the new directives issued by the government on May 1 with regard to resumption of manufacturing, industrial and commercial business activities, Royal Enfield has resumed operations at its manufacturing facilities starting May 6, 2020.

As on date, all the three manufacturing facilities of the company are operational, it added.

COVID-19 Vaccine

Frequently Asked Questions

How does a vaccine work?

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