Eicher Motors (EML) has announced its financial results for Q2 FY2024 with a record revenue of Rs 4,115 crore, up 17% as compared to Rs 3,519 crore a year ago; EBITDA at Rs 1,087 crore, up 32% and highest ever net profit of Rs 1,016 crore, a robust growth of 55% YoY.
In addition to benefitting from softening raw material prices, the company’s two-wheeler business Royal Enfield sold 229,496 motorcycles, up 13% YoY. On the other hand, Volvo Eicher Commercial Vehicles (VECV) with sales of 19,551 units exceeded its previous best sales of 18,696 units in Q2 FY2019.
