Eicher Motors, a commercial vehicles and two-wheeler manufacturer (Eicher Motors owns Royal Enfield) has reported that its net profit for the period of April-June 2018 is at ₹ 576 crore and saw a growth of 25.3 per cent over the net profit of ₹ 459.62 crore earned during the same time last year. The company missed its estimate of a net profit of ₹ 597 crore for Q1 FY2019. The company's revenue too rose to ₹ 2,547 crore which is a 27 per cent growth over the revenue generated in Q1 FY2018. Also, this was in-line with company's estimate of ₹ 2,525 crore worth of profit in Q1 FY 2019. Royal Enfield played a very important role here registering a volumes growth of 22.5 per cent.
The company's operating income or earnings before interest, tax, depreciation and amortisation (EBITDA) was pegged at ₹ 810 crore, which is a 31.8 per cent growth over the same time frame during last year. Also, the company estimated EBITDA of ₹ 805 crore for Q1 FY2019, which means its operating income was in line with the estimate. The company's net sales in the first quarter of FY2019 were worth ₹ 2,547.75 crore. In comparison, the net sales during Q1 FY2018 stood at ₹ 2,254.94 crore. This indicates a growth of ₹ 292.81 crore and a 13 per cent growth.
Eicher Motors' total expenses during Q1 FY2019 were ₹ 1,809.83 crore. In comparison to Q1 FY2018, the total expenses amounted to ₹ 1,680.56 crore. The company's expenses increased by ₹ 129.27 crore and 7.69 per cent.
Royal Enfield sold 2, 25,286 units in the first quarter of FY2019 in comparison to 1, 83,731 units sold in the first quarter of Q1 FY2018. This represents a growth of 23 per cent. Royal Enfield exported 5,636 units in Q1 FY2019 which is an increase of 10 per cent over the exports in Q1 FY2018.
Eicher Motors' sale of trucks and buses under VECV (Volvo Eicher Commercial Vehicles) was 16,327 units in Q1 FY2019 registering a growth of 41 per cent. The company sold 11,583 units during the same time last year.