Published: February 16, 2021, 11:17 AM IST
Eicher Motors Limited (EML) today announced its unaudited consolidated financial results for the quarter ended December 31, 2020.
For the
quarter ended December 31, 2020, Eicher Motors total revenue from operations was recorded at Rs. 2,828 crores up by 19% as compared to Rs. 2,371 crores in the corresponding quarter of FY 2019-20; EBITDA was Rs. 672 crores crores, up by 13% as compared to Rs. 592 crores in the same quarter of the previous financial year; Profit after Tax was Rs. 533 crores against a profit of Rs. 499 crores during the same period last year. Royal Enfield sold 199,000 motorcycles in the quarter, an increase of 5% from 189,000 motorcycles sold over the same period in FY 2019-20.
Eicher Motors Limited announces financial results for the quarter ended December 31, 2020
Eicher Motors Limited (EML) today announced its unaudited consolidated financial results for the quarter ended December 31, 2020.
For the
quarter ended December 31, 2020, Eicher Motors’ total revenue from operations was recorded at Rs. 2,828 crores up by 19% as compared to Rs. 2,371 crores in the corresponding quarter of FY 2019-20; EBITDA was Rs. 672 crores crores, up by 13% as compared to Rs. 592 crores in the same quarter of the previous financial year; Profit after Tax was Rs. 533 crores against a profit of Rs. 499 crores during the same period last year. Royal Enfield sold 199,000 motorcycles in the quarter, an increase of 5% from 189,000 motorcycles sold over the same period in FY 2019-20.
Auto companies to hike prices again as steel rates soar
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Synopsis
The increase in raw material costs is set to trigger a second round of price hikes in the auto industry with manufacturers indicating a markup of 1-3%. Mahindra & Mahindra, Eicher Motors and Ashok Leyland may hike prices in April-May to neutralise the pinch of the sharp rise in costs of steel, aluminium and other metals.
(Representative image)
(This story originally appeared in on Feb 15, 2021)CHENNAI: The increase in raw material costs is set to trigger a second round of price hikes in the auto industry with manufacturers indicating a markup of 1-3%. Mahindra & Mahindra, Eicher Motors and Ashok Leyland may hike prices in April-May to neutralise the pinch of the sharp rise in costs of steel, aluminium and other metals.
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Eicher Motors clocks profit on steady growth across segments
Eicher Motors’ Q3 FY2021 PAT (Profit after Tax) rose 6.81 percent year-on-year to Rs 533 crore (Q3 FY2020 profit at Rs 499 crore) on the back of steady growth across segments. Total revenue from operations was up 19 percent to Rs 2,828 crore YoY (Q3 FY2020 revenue from operation: Rs 2,371 crore).
Commenting on Eicher Motors’ performance, Siddhartha Lal, managing director said, “The third quarter has seen steady business growth and encouraging performance across the board. Consumer sentiment and demand have improved and this is reflected in our volumes for the quarter. At VECV, demand for commercial vehicles has been improving sequentially. At Royal Enfield as well, we saw encouraging pick-up in demand and bookings over the quarter.”