Eicher Motors Q1 Profit Surges 20% to Rs 1,101 cr

New Delhi, Aug 8 (PTI) Eicher Motors on Thursday said its consolidated profit after tax increased 20 per cent year on year to Rs 1,101 crore in the first quarter ended June 2024, aided by higher sales.

The company had reported a profit after tax (PAT) of Rs 918 crore in the June quarter of last fiscal.

Revenue from operations rose to Rs 4,393 crore in the latest June quarter as compared to Rs 3,986 crore in the year-ago period, Eicher Motors said in a regulatory filing.

The company said Royal Enfield, its two-wheeler division, saw sales of 2,27,736 motorcycles in the first quarter as compared to 2,25,368 units in June quarter of FY24.

Volvo Eicher Commercial Vehicle (VECV) reported a revenue of Rs 5,070 crore for the quarter, up 2 per cent as compared to Rs 4,980 crore in the year-ago period.

PAT stood at Rs 319 crore as against Rs 181 crore last year, Eicher Motors said.

VECV recorded sales of 19,702 vehicles in the first quarter this fiscal as compared to 19,571 vehicles in same period of last fiscal.

"We have a robust product calendar for the rest of the year as well, and are getting ready to launch the 2024 Classic very soon," Eicher Motors Managing Director Siddhartha Lal said.

Meanwhile, VE Commercial Vehicles recorded its best ever first-quarter sales, gaining volumes in key segments, he added.

Shares of Eicher Motors ended 0.46 per cent down at Rs 4,578.80 apiece on the BSE.