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Eicher Motors Q3 profit rises 34% at Rs 996 crore; Royal Enfield sold 2,29,214 motorcycles

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VE Commercial Vehicle Ltd Eicher Motors

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New Delhi: Eicher Motors on Tuesday said its consolidated net profit increased 34 per cent to Rs 996 crore for the third quarter ended December 31, 2023 aided by robust sales across domestic and overseas markets.

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The company had reported a net profit of Rs 741 crore in the same period of last fiscal.

The automaker also reported its highest-ever revenue from operations at Rs 4,179 crore, up 12 per cent as compared with Rs 3,721 crore in the corresponding quarter of FY 2022-23, Eicher said in a statement.

Royal Enfield, a part of Eicher Motors, sold 2,29,214 motorcycles in the third quarter, an increase of 4 per cent as compared to 2,19,898 units in the same period in FY 2022-23, it said.

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"We believe the Himalayan on the new Sherpa 450 platform has the potential to change adventure touring around the world, and significantly grow the middleweight motorcycling segment," Eicher Motors MD Siddhartha Lal said.

At VE commercials vehicles, the company recorded its best third quarter ever, with strong sales and improved market share across all business segments, he added.

Shares of Eicher Motors on Tuesday ended 0.39 per cent down at Rs 3,857.10 apiece on the BSE.

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