Eicher Motors Q4 results: Consolidated net profit rises 49% to Rs 906 cr

Eicher Motors, on Thursday, posted a consolidated net profit of Rs 906 crore for the March quarter due to robust sales in domestic and global markets. This is 49 per cent rise from Rs 610 crore a year ago, the company statement said.

Eicher Motors said in a BSE filing, “Total revenue from operations rose to Rs 3,804 crore for the fourth quarter as compared with Rs 3,193 crore in the year-ago period.”

In a regulatory filing, Eicher Motors said, “The board of directors recommended final dividend of Rs 37/- per equity share of face value of Re 1 each for the financial year ended March 31, 2023, subject to the approval of the shareholders at the ensuing 41st Annual General Meeting. The Dividend shall be paid/ dispatched within 30 days from the date of shareholders’ approval.”  

Eicher Motors reported a consolidated net profit of Rs 2,914 crore for the year ended March 31, 2023 as compared with Rs 1,677 crore in FY22, the statement said.

Total revenue from operations for FY23 increased to Rs 14,442 crore as against Rs 10,298 crore in the 2021-22 fiscal.

Eicher Motors said its board has approved a cash outlay of Rs 1,000 crore for 2023-24. The capital would be utilised for electric vehicle manufacturing facility and product development and new product development under internal combustion engine portfolio.

Shares of the company ended 0.25 per cent down at Rs 3,407.05 apiece on the BSE.

(With inputs from agencies)