Eicher Motors Q1 Results FY2023, PAT at Rs. 611 crores
On 10th August 2022, Eicher Motors announced its quarterly results for the first quarter of FY2023.
Q1FY23 Key Highlights:
- Eicher Motors’ total revenue from operations was recorded at Rs. 3,397 crores up 72% as compared to Rs. 1,974 crores in the corresponding quarter of FY 2021-22
- EBITDA was Rs. 831 crores compared to Rs. 363 crores in the same quarter of the previous financial year.
- Profit After Tax was Rs. 611 crores as compared to a profit Rs. 237 crores during the same period last year.
Business Highlights:
- Royal Enfield ended the quarter with its best ever performance in international markets with total dispatches at 28,390 units, more than 62% increase over 17,493 in the same period last year; and a 30% increase over 21,787 in Q4FY22
- Recently, Royal Enfield launched the refreshingly new Hunter 350. The Hunter 350 is a premium, stylish, compact-yet-muscular roadster that is distinctly unique within the Royal Enfield line-up. Built on the award-winning 350cc J-series platform, combined with a highly flickable Harris Performance chassis, the Hunter delivers agility without fragility on city streets and sheer, grin-inducing pleasure on the open road. Launched to a global audience earlier this month, the Hunter is available in India, and will soon be found across the Asia Pacific and Europe.
- Royal Enfield also launched three new colorways on the Meteor 350.
- Royal Enfield concluded its marquee ride, the Himalayan Odyssey 2022, in which 70 participants rode together to cover nearly 2,700 km in 18 days
- In addition to the new launches, Royal Enfield celebrated its long-standing association with the Indian Army with a unique commemorative sculpture - the "Tornadoes Wall". The Tornadoes Wall is a mark of respect to the unrelenting valor and bravery of the soldiers of the Indian Army which stands tall at the Centre of Bengaluru.
Commenting on the results, Siddhartha Lal, Managing Director, Eicher Motors Ltd., said, “We have had an excellent quarter to begin this financial year. Our international volumes continued to record consistent growth with a 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. We recently launched the exciting new, neo-retro-styled roadster, the Hunter 350. We just concluded the global launch and first ride program in Bangkok with the world’s top press. There was tremendous energy and a very enthusiastic response for the motorcycle. We are confident that the Hunter will usher in new audiences and newer geographies into the brand fold. VECV, our Commercial Vehicle Joint Venture with the Volvo Group, recorded its highest ever first quarter volumes. The quarter also witnessed the inauguration of the first electric city bus delivered to the city of Chandigarh.”
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