Eicher Motors' revenue for the quarter ending on June 30, 2022, was INR 3,397 crore, up 72% compared to INR 1,974 crore in the corresponding quarter of FY22. The company's EBITDA was INR 831 crore compared to INR 363 crore in the same quarter of the previous financial year.
Its PAT was INR 611 crore compared to INR 237 crore during the same period last year. Royal Enfield, a unit of Eicher Motors, sold 186,032 motorcycles in the quarter, an increase of 52% from 122,170 motorcycles sold over the same period in FY 2021-22.
Siddhartha Lal, Managing Director, Eicher Motors, said, 'VECV, our commercial vehicle joint venture with the Volvo Group, recorded its highest ever first quarter volumes. The quarter also witnessed the inauguration of the first electric city bus delivered to the city of Chandigarh.”
Vinod Aggarwal, MD and CEO, VECV, believes that there are huge opportunities in the commercial vehicle market. However, he noted that the margins remained under pressure in the quarter largely due to high inflation in a competitive marketplace.
For FY22, Eicher Motors recorded a total income of INR 10,298 crore (about $1.34 billion). In addition, VECV reported total revenue of INR 12,724 crore (about $1.64 billion) in FY22.