Royal Enfield motorcycle manufacturer, Eicher Motors Ltd on Friday (November 10) reported the highest-ever net profit of ₹1,016.3 crore, registering a growth of 55% for the second quarter that ended September 30, 2023.
In the corresponding quarter last year, Eicher Motors posted a net profit of ₹656.9 crore, the company said in a regulatory filing. The CNBC-TV18 poll had predicted a profit of ₹911 crore for the quarter under review.
The company's revenue from operations increased 16.9% to ₹4,114.5 crore against ₹3,519.4 crore in the corresponding period of the preceding fiscal. This was above CNBC-TV18 poll's estimated revenue figure of ₹4,040 crore for the quarter under review.
At the operating level, EBITDA jumped 32.3% to ₹1,087.1 crore in the second quarter of this fiscal over ₹821.6 crore in the corresponding period in the previous fiscal. The CNBC-TV18 poll had predicted an EBITDA of ₹1,041 crore for the quarter under review.
The EBITDA margin stood at 26.4% in the reporting quarter against 23.3% 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 25.8% for the quarter under review.
The results came after the close of the market hours. Shares of Eicher Motors Ltd ended at ₹3,564.05, up by ₹22.65, or 0.64%, on the BSE.
