Eicher Motors Ltd on Wednesday recorded an 8.3 per cent year-on-year (YoY) rise in its September 2024 quarter (Q2 FY25) consolidated net profit. During the quarter under, profit after tax came at Rs 1,100 crore as against Rs 1,016 crore in the year-ago period.
The Royal Enfield bikemaker's revenue from operations moved up 3.60 per cent to Rs 4,263 crore from Rs 4,115 crore in the corresponding period last year. EBITDA was at Rs 1,088 crore in Q2 Fy25 as compared to Rs 1,087 crore in the same quarter of the previous financial year.
During the quarter, Royal Enfield recorded sales of 2,25,317 motorcycles as compared to 2,29,496 motorcycles sold during the same period in FY24.
"For Q2 FY25, VECV's revenue from operations was Rs 5,538 crore, up by 8 per cent 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," Eicher Motors stated. VE Commercial Vehicles Limited (VECV) is a joint venture between Eicher Motors and the Volvo Group.
Siddhartha Lal, Managing Director at Eicher Motors, said, "During this quarter, we have continued to sustain the momentum both at Royal Enfield and VECV. At EICMA, earlier this month, we launched two motorcycles on our 650-Twin platform; the Bear 650, and the Classic 650. In addition to this, Royal Enfield marked its foray into electric mobility with a new EV brand - the Flying Flea. 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."
Royal Enfield forayed into the EV space by announcing the launch of its completely new electric vehicle brand, Flying Flea at EICMA earlier this month. The debut featured two models: the Classic-styled Flying Flea C6 and the Scrambler-styled Flying Flea S6.
Globally, the company said it strengthened footprint with a manufacturing and assembly unit and a flagship store in Bangladesh. It has also announced plans to set up a second CKD facility in Brazil.
On the stock-specific front, shares of Eicher Motors settled 3.15 per cent lower at Rs 4,589.10. At this value, the stock has climbed 13.72 per cent on a year-to-date (YTD) basis.