Eicher Motors Boosts Quarterly Profits by 18%

Eicher Motors reported an 18% increase in consolidated profit after tax to Rs 1,171 crore for the quarter ending December 31, 2024. With record sales, including a high for Royal Enfield, and new ventures in electric vehicles, the company marked significant advancements.

Eicher Motors' profits soared by 18% in the third quarter, highlighting strong performance with a profit after tax reaching Rs 1,171 crore. This growth was supported by increased sales and strategic expansions, including the introduction of their new electric vehicle brand, Flying Flea.

The company achieved its highest-ever sales for Royal Enfield, hitting a volume of 2,69,039 motorcycles, a 17% increase compared to the same period last year. Eicher's success comes despite challenges in the commercial vehicle sector, with VE Commercial Vehicles also experiencing growth.

In corporate developments, Siddhartha Lal was appointed as the Executive Chairman, succeeding S Sandilya, while Vinod Aggarwal and B Govindarajan took on new leadership roles. Despite positive results, Eicher Motors' shares dipped slightly by 1.16% to Rs 5,310.70 on the BSE.

(With inputs from agencies.)