Eicher Motors Q2 net profit up 8% at Rs 1,100 cr

New Delhi: Eicher Motors on Wednesday said its consolidated profit after tax increased 8 per cent on-year to Rs 1,100 crore in the September 2024 quarter on the back of robust sales across business segments.

The automaker reported a Profit After Tax (PAT) of Rs 1,016 crore in the July-September quarter of last fiscal.

The company said it reported the best-ever second quarter revenue from operations at Rs 4,263 crore compared to Rs 4,115 crore a year ago, Eicher Motors said in a regulatory filing.

During the second quarter, Royal Enfield recorded sales of 2,25,317 motorcycles against 2,29,496 vehicles sold during the same period in FY24.

Royal Enfield is a division of Eicher Motors.

"During this quarter, we have continued to sustain the momentum both at Royal Enfield and VECV," Eicher Motors Managing Director Siddhartha Lal said.

With an aim to disrupt and grow the electric motorcycle segment, the company is approaching it with the same singularity, focus and unconventionality with which it has grown and energised the global mid-size segment over the last several years, he noted.

"On the commercial vehicle front, VE Commercial Vehicles delivered its best Q2 ever, with strengthened market shares in the truck segments," Lal stated.

Royal Enfield CEO B Govindarajan said the company has made significant progress in expanding and strengthening its footprint outside India in markets like Bangladesh and Brazil.

Royal Enfield has announced its intent to set up a new Completely Knocked Down (CKD) unit in Brazil by January 2025, which will help diversify its operations.

Shares of Eicher Motors settled 3.15 per cent down at Rs 4,589.10 apiece on the BSE.