Royal Enfield-maker Eicher Motors records highest-ever revenue; net profit jumps 34% to ₹996 crore in Q3

At the operating level, EBITDA increased by 27.2% to ₹1,090.4 crore in the third quarter of this fiscal over ₹857.4 crore in the corresponding period in the previous fiscal. The CNBC-TV18 poll had predicted an EBITDA of ₹1,089 crore for the quarter under review.

EBITDA margin stood at 26.1% in the reporting quarter as compared to 23% in the corresponding period in the previous fiscal. EBITDA is earnings before interest, tax, depreciation, and amortisation. The CNBC-TV18 poll had predicted a margin of 27% for the quarter under review.

Siddhartha Lal, managing director of Eicher Motors, said, "At VE Commercials Vehicles, we recorded our best third quarter ever, with strong sales and improved market share across all business segments. We have recently announced our entry into the growing Small Commercial Vehicle segment with an Electric-First offer which will be available from 2025."

Royal Enfield sold 229,214 motorcycles in the quarter, an increase of 4% compared to 219,898 motorcycles sold over the same period in FY 2022-23.

B Govindarajan, CEO of Royal Enfield and Wholetime Director, EML, said, "It has been a great quarter at Royal Enfield as we’ve continued on our strong growth momentum and have registered our highest ever sales for the quarter. We have further strengthened our product portfolio with the launches of the all-new Himalayan, the Shotgun 650 and new colourways on the Meteor 350."

Vinod Aggarwal, MD and CEO of VE Commercial Vehicles said, "VECV delivered a strong performance in the quarter, with market share gains across business segments. We recorded our highest-ever Q3 sales at 20,706 units. As of December 2023, YTD sales reached 59,828 units, marking a 12.4% increase from the previous year’s 53,247 units."

Shares of Eicher Motors Ltd ended at ₹3,890.95, up by ₹18.65, or 0.48% on the BSE.