Robust performance at Royal Enfield and VECV power Eicher Motors record quarterly net profit of Rs 1,087 crore in Q2 FY2024
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.
