Eicher Motors announced its Q1 results on August 8 after market close.
What Happened: Royal Enfield maker’s consolidated net profit rose 19.94% to ₹1,101.46 crore in the quarter. Its revenue from operations gained 10.20% to ₹4,393.05 crore. The company’s EBITDA rose to 14.1% to ₹1,165 crore.
The results met the street’s estimates of ₹1,020.06 crore net profit and ₹4,257.26 crore revenue.
In the previous year, the company had a net profit of ₹918.34 crore, revenue of ₹3,986.37 crore and EBITDA of ₹1,021 crore.
Royal Enfield sales increased slightly to 2,27,736 from 2,25,368 units in the previous year.
Profit of VE Commercial Vehicles increased to ₹319 crore from ₹181 crore in the previous year.
In July, the company launched the Royal Enfield Guerrilla 450 model, priced at ₹2.39 lakh.
Price Action: Shares of Eicher Motors were down 0.42% to ₹4,578 ahead of the company’s result announcement on Thursday.
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