Eicher Motors, makers of Royal Enfield bikes report profit of 18.20 % in Q4 FY24
In a filing to the exchange, the company called its financial performance for FY 2023-24 as the best ever with record revenues of ₹16,536 crores, and the highest profit after tax at ₹4,001 crores, marking a 37.31 per cent increase compared to the previous year.
The net profit of Eicher Motors surged by 18.20 per cent to ₹1,070 crore during the Q4 of FY24 as compared to the previous year. The revenue of the company for Q4 FY24 also increased by 11.87 per cent to ₹4,256 crores as compared to the same quarter in FY 2022-23.
In a filing to the exchange, the company called its financial performance for FY 2023-24 as the best ever with record revenues of ₹16,536 crores, and the highest profit after tax at ₹4,001 crores, marking a 37.31 per cent increase compared to the previous year.
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The Board of Directors of the company has also declared a final dividend of ₹51 per share for FY 2023-24, amounting to a payout of ₹1,396.41 crores.
"This year also saw Royal Enfield mark its debut in Turkey, which has huge potential for leisure motorcycling, and also set up a wholly-owned subsidiary in the Netherlands to cater to evolving consumers in the EU" said B. Govindarajan, CEO - Royal Enfield, and Wholetime Director, EML.
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The company also informed that Royal Enfield, its subsidiary experienced a 6.17 per cent increase in motorcycle sales during the Q4 FY24, selling 2,27,925 units. For the full financial year ending March 31, 2024, the total sales stands at 9,12,732 units, representing a 9 per cent increase from the previous fiscal year's standalone sales of 834,895 units. On Friday's trading session the share of the company gained more than 2 percent to ₹4670.
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