November 05, 2024 21:49 (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Union Minister HD Kumaraswamy booked for threatening cop probing into mining case | Supreme Court upholds validity of Uttar Pradesh Madrasa Education Act | Not all private properties are community resources that govt can take over: Supreme Court | Pakistan's Lahore has become world's most polluted city with an AQI of 1900 on Sunday | Indian Army 'successfully completes' patrolling to a key point in Ladakh's Depsang region
Eicher Motors Q2FY24 consolidated PAT grows 55% to Rs 1,016 cr
Photo Courtesy: UNI

Eicher Motors Q2FY24 consolidated PAT grows 55% to Rs 1,016 cr

| @indiablooms | 11 Nov 2023, 01:08 am

Mumbai: Eicher Motors announced an impressive 55% growth in its consolidated net profit at Rs 1,016 crore for the second quarter concluding on September 30, 2023, on the back of strong sales.

In the corresponding quarter of the previous fiscal year, the company had recorded a net profit after tax of Rs 657 crore.

According to a regulatory filing by Eicher Motors, the total revenue from operations also witnessed a significant increase, reaching Rs 4,115 crore for the September quarter, compared to Rs 3,519 crore in the same period last year.

The company highlighted that this performance marks its highest-ever quarterly figures in terms of revenues, profits, and sales.

Royal Enfield, a division of Eicher Motors, recorded a significant uptick in motorcycle sales during the second quarter, with 2,29,496 units sold. This reflects a 13% increase compared to the 2,03,451 motorcycles sold in the corresponding period of the previous fiscal year.

Eicher Motors Managing Director Siddhartha Lal expressed satisfaction with the company's overall performance at the halfway point of the financial year, citing remarkable achievements at both Royal Enfield and VE Commercial Vehicles.

VE Commercial Vehicles (VECV) also delivered an impressive performance, attaining its highest-ever sales in the July-September quarter.

The company successfully sold 19,551 units during this period, surpassing the previous best sales record of 18,696 units in the second quarter of the fiscal year 2018-19, said VECV Managing Director and Chief Executive Officer Vinod Aggarwal.

Operational since July 2008, VE Commercial Vehicles Ltd. (VECV) comprises of five business verticals – Eicher Trucks and Buses, Volvo Trucks India, Eicher Engineering Components, VE Powertrain and VECV Engine Business.

Support Our Journalism

We cannot do without you.. your contribution supports unbiased journalism

IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.

Support objective journalism for a small contribution.