Eicher Motors, the maker of Royal Enfield motorcycles, reported a 16 per cent increase in net profit in the fourth quarter of the financial year 2021-22 to Rs 610 crore compared to Rs 526 crore the same period in 2020-21.
For the quarter ended March 31, Eicher Motors’ total revenue from operations was at an all-time high at Rs. 3,193 crore, up 8.6 per cent as compared to Rs. 2,940 crore in the corresponding quarter of FY 2020-21. Royal Enfield recorded sales of 182,125 motorcycles in the quarter, down by 10.4 per cent from 203,343 motorcycles sold during the same period in FY 2020-21. EBITDA was Rs. 757 crore, up 19.3 per cent as compared to Rs. 634 crore in the same quarter of the previous financial year.
Eicher Motors has announced the appointment of B Govindarajan as Chief Executive Officer of Royal Enfield. With this appointment, Govindarajan will now be a Wholetime Director on the Board of Eicher Motors Ltd.
For the financial year, net profit was seen at Rs 1,677 crore, up by 24.5 per cent as compared to Rs. 1,347 crore for the same period last year. The company’s total revenue from operations was at an all-time high of Rs. 10,298 crore up by 18.1 per cent as compared to Rs. 8,720 crore recorded for FY 2020-21aided by Royal Enfield’s performance in international markets. During FY 2021-22, Royal Enfield registered motorcycle sales at 595,474, down 2.3 per cent from 609,403 in FY 2020-21.
“During this year, our international markets growth story showed stellar performance with more than 100 per cent growth YoY as we continued to deliver sustained results in the domestic market,” said Siddhartha Lal, managing director, Eicher Motors Ltd.