Eicher Motors’ fourth-quarter net profit up 16%, Royal Enfield bike sales drop
Eicher Motors, the maker of Royal Enfield motorcycles, reported a 16% increase in net profit in the fourth quarter of fiscal 2021-22 to Rs 610 crore from Rs 526 crore in the same period in 2020-21.
For the quarter ended March 31, Eicher Motors’ total operating revenue hit a record high at Rs. 3,193 crore, up 8.6% from Rs. 2,940 crore in the corresponding quarter of the 2020-21 financial year. Royal Enfield recorded sales of 182,125 motorcycles in the quarter, down 10.4% from the 203,343 motorcycles sold in the same period of financial year 2020-21. EBITDA was Rs. 757 crore, up 19.3% from Rs. 634 crore in the same quarter last year.
Eicher Motors has announced the appointment of B Govindarajan as Managing Director of Royal Enfield. With this appointment, Govindarajan will now be a full-time director on the board of Eicher Motors Ltd.
For the financial year, net profit was estimated at Rs 1,677 crore, up 24.5% from Rs. 1,347 crore for the same period last year. The company’s total income from operations was at a record high of Rs. 10,298 crore up 18.1% from Rs. 8,720 crore recorded for the 2020-21 financial year helped by the performance of Royal Enfield in international markets. In financial year 2021-22, Royal Enfield recorded motorcycle sales of 595,474, down 2.3% from 609,403 in financial year 2020-21.
“During this year, our growth story in international markets has shown outstanding performance with over 100% year-on-year growth as we continue to deliver sustained results in the domestic market,” said Siddhartha Lal. , managing director of Eicher Motors Ltd.