Profit of Eicher Motors surged by 18.20 pc in Q4 FY24

New Delhi [India], May 11 : The net profit of Eicher Motors surged by 18.20 per cent to Rs 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 percent to Rs 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 Rs 16,536 crores, and the highest profit after tax at Rs 4,001 crores, marking a 37.31% increase compared to the previous year.

The Board of Directors of the company has also declared a final dividend of Rs 51 per share for FY 2023-24, amounting to a payout of Rs1,396.41 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.

The company also informed that Royal Enfield, its subsidiary experienced a 6.17 percent increase in motorcycle sales during the Q4 FY24, selling 227,925 units. For the full financial year ending March 31, 2024, the total sales stands at 9,12,732 units, representing a 9 percent 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 Rs 4670.

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