Eicher Motors Ltd. the manufacturer of the Royal Enfield Motorcycle reported its highest ever revenue and net profit for the September quarter.
However, the numbers were largely in-line or marginally below a CNBC-TV18 poll. The company's EBITDA margin, though higher year-on-year, turned out to be 70 basis points below the projection of 24 percent.
On a year-on-year basis, Eicher Motors reported a 56 percent jump in revenue while operating profit increased 75 percent. EBITDA margin expanded 500 basis points from last year.
The management says that it has witnessed great uptick in momentum with the launch of the new Hunter 350. CEO B Govindarajan termed the quarter to be "exceptional" for Royal Enfield. The company has already rolled out 50,000 Hunter 350s and its retail will begin in Thailand and other Asia-Pacific markets soon.
The CEO of Royal Enfield further added that the retail performance internationally has been "tremendous," with a 7 percent market share in the Americas and 9 percent in the Asia Pacific. It currently has 2,130 outlets in the domestic market.
On the commercial vehicles side, Volvo Eicher Commercial Vehicles delivered its first large order of 40 skyline Pro E electric buses to Chandigarh.
VECV also strengthened its market share in the Heavy Duty trucks segment to 8 percent and in the buses segment to 25 percent.
MD & CEO Vinod Aggarwal said that the unit is doing well on the revenue and margin front as well as volume-wise. However, exports within this segment were impacted due to restrictions in certain regions.
First Published: Nov 10, 2022 6:07 PM IST
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP is planning to ban RSS, says Shiv Sena (UBT) chief Uddhav Thackeray
May 18, 2024 8:01 PM
Punjab Lok Sabha elections: Complete list of Congress candidates
May 18, 2024 4:08 PM
Punjab Lok Sabha elections: Check full list of AAP candidates and constituencies
May 18, 2024 12:59 PM
PM Modi, Rahul Gandhi election rallies in Delhi today: Here are the routes to avoid
May 18, 2024 11:28 AM