Eicher Motors Limited (EML) has announced its unaudited consolidated financial results for the quarter ended June 30, 2018.
In the quarter ended June 2018, Royal Enfield posted its best ever performance. Revenue from operations rose 27% to a record Rs. 2,548 crores (net of excise duty) in the quarter, compared to the same period last year; Profit After Tax grew by 25% to Rs. 576 crores from 460 crores in the same period last year. The EBITDA % was recorded rose to 31.8% this quarter from 31% in the same period last year last year. Royal Enfield sold 225,286 motorcycles in the Q1 2019, registering a growth of 23% over 183,731 motorcycles sold in the same period last year.
Commenting on Royal Enfield’s performance, Siddhartha Lal Managing Director and CEO Eicher Motors Ltd said, “We continue to make significant progress on all the targets that we have set for ourselves and are happy to report strong financials quarter on quarter. The Twin motorcycles are ready for the first global media ride planned for the last week of September in California. We will begin bookings in a phased manner for these motorcycles starting from the third quarter of this financial year, across geographies. To better cater to demand, we have commenced work on Phase II of our Vallam Vadagal manufacturing facility and should begin production there by mid of FY2020. Towards enhancing our design, engineering and product development capabilities, our Chennai Technology Centre is on track and we plan to complete the installation of all testing and validation equipment by October 2018.”
(Continued on the next page)