Eicher Motors’ revenue after tax jumps 73% to Rs 526 cr in March quarter

Eicher Motors’ revenue after tax jumps 73% to Rs 526 cr in March quarter

Eicher Motors Ltd on Thursday reported a 73 per cent soar in consolidated revenue after tax at Rs 526.14 crore for the fourth quarter ended March 31, 2021, driving on higher gross sales.

The corporate had posted a consolidated revenue after tax of Rs 304.28 crore within the fourth quarter of the earlier fiscal, Eicher Motors Ltd stated in a regulatory submitting.

Its consolidated whole income from operations in January-March quarter stood at Rs 2,940.33 crore, in contrast with Rs 2,208.18 crore within the year-ago quarter.

The group’s two-wheeler arm Royal Enfield offered 2,03,343 bikes within the quarter, a rise of 25 per cent from 1,63,083 bikes offered over the identical interval in FY 2019-20, the corporate stated.

The corporate’s three way partnership with Volvo, VE Industrial Autos (VECV), recorded development of 56 per cent with volumes of 18,167 items in opposition to 11,629 items throughout the identical interval final yr, it added.

For the fiscal ended March 31, 2021 the corporate’s consolidated revenue after tax was down 26 per cent at Rs 1,346.89 crore as in comparison with Rs 1,827.44 crore in 2019-20, it stated.

Consolidated whole income from operations for FY21 was down at Rs 8,720.35 crore as in opposition to Rs 9,153.58 crore in FY20.

The board of administrators at its assembly held on Thursday permitted a dividend of Rs 17 per fairness share of a face worth of Rs 1 every for the monetary yr ended March 31, 2021, the corporate stated.

Eicher Motors Ltd Managing Director Siddhartha Lal stated it has been a difficult yr for the business with the COVID-19 pandemic resulting in disruption in manufacturing, provide chain and retail operations.

“In the course of the yr, there have been challenges additionally on account of things equivalent to provide chain constraints and commodity worth improve.

“Nonetheless, demand continues to be good. Royal Enfield witnessed excellent decide up within the second half of the yr, and registered a robust efficiency in This fall,” he added.

He added that the corporate has seen encouraging demand coming from rural in addition to city segments.

“The launch of the Meteor (mannequin) has been effectively acquired by customers, and has witnessed glorious response. We’ve got additionally been in a position to considerably improve our retail market presence in India and globally by means of this yr,” Lal stated.

On the industrial autos entrance, he stated the business additionally confirmed equal resilience and noticed good restoration within the latter half of the yr.

VECV gained market share throughout segments. Within the heavy responsibility section, VECV quantity grew 6 per cent in 2020-21 in comparison with final yr in opposition to a decline of 21 per cent in business quantity, Lal added.

“Total, each at Royal Enfield and at VECV, we have now managed to tide over a tricky yr, and regardless of imminent challenges that persist, we stay steadfast on our strategic long run objectives,” he stated.

(Solely the headline and film of this report could have been reworked by the Enterprise Normal workers; the remainder of the content material is auto-generated from a syndicated feed.)

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