Eicher Motors Q1: Net Profit, EBITDA Rally Upto 158% YoY; Topline Jumps 71.2%

  • Investing.com
Eicher Motors Q1: Net Profit, EBITDA Rally Upto 158% YoY; Topline Jumps 71.2%

By Malvika Gurung

Investing.com -- The auto company Eicher Motors (NS: EICH ) released its earnings results for the June 2022 quarter post-market hours on Wednesday, its profit figures meeting the Street’s estimate.

The iconic motorcycle Royal Enfield’s manufacturer posted a whopping 157.5% YoY growth in consolidated net profit at Rs 610.66 crore during the Apr-Jun 2022 period. Analysts at Bloomberg had pegged the figure at Rs 601 crore.

Its consolidated revenue from operations surged 71.2% YoY to Rs 3,325.8 crore in Q1 FY23, exceeding the Street’s estimate, while rising 6.4% sequentially. Sales of the two-wheeler maker climbed marginally to 1.87 lakh units, sequentially.

Eicher Motors’ EBITDA in the reporting quarter rallied 130% YoY to Rs 831 crore, while EBITDA margin surged to 24.5% from 18.4% in the year-ago period, thanks to alleviating metal prices.

The company’s sharp uptick in topline and bottomline figures was due to a rise in its exports segment, an increase in the volumes of Royal Enfield, and a higher average realisation, resulting from a price hike undertaken by the company during May 2022.

The company’s shares closed 1.21% higher at Rs 3,154.55 apiece on Wednesday.

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