Eicher Motors, the commercial vehicle and Royal Enfield motorcycles manufacturer, reported a consolidated net profit of ₹1,070.45 crore for the fourth quarter of FY24, recording an 18.2% rise from ₹905.58 crore in the year-ago quarter.
The company’s total revenue from operations in Q4FY24 increased 11.87% to ₹4,256.04 crore from ₹3,804.32 crore, on a year-on-year (YoY) basis.
At the operating level, Eicher Motors posted Earnings Before Interest Tax Depreciation and Amortisation (EBITDA) growth of 20.88% at ₹1,129 crore in the March quarter as compared to ₹934 crore in the corresponding quarter of the previous financial year.
During the quarter, Royal Enfield recorded sales of 227,925 motorcycles, up by 6.17% from 214,685 motorcycles sold during the same period in FY23. For the full year FY24, Royal Enfield registered motorcycle sales at 9,12,732 (standalone), up by 9% from 834,895 (standalone) in FY23.
VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, reported net profit of ₹823 crore in FY24, up 42.06% from ₹579 crores last year, while its revenue from operations grew 15.38% to ₹21,868 crore from the previous year’s revenue of ₹18,952 crore. EBITDA for FY24 was at ₹1,715 crore, 25.27% higher than ₹1,369 crore in the last year.
VECV recorded sales of 85,560 vehicles for FY 2023-24, marking a growth of 7.46% over 79,623 vehicles in FY 2022-23.
Eicher Motors Dividend
The board of directors of Eicher Motors recommended a final dividend of ₹51 per equity share of face value of Re 1 each for the financial year ended March 31, 2024, subject to the approval of the shareholders.
The final dividend aggregates to ₹1,396.41 crore (34.9% of PAT) for the financial year ended March 31, 2024. The dividend per share is the highest ever for Eicher Motors and is 37.1% higher than the FY 2023 dividend per share, the company said.
On Friday, Eicher Motors share price ended 1.98% higher at ₹4,657.65 apiece on the BSE.
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Published: 11 May 2024, 01:13 PM IST
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