Eicher Motors Q2 Results: Net profit rises 8.27% YoY to ₹1,100 crore

Eicher Motors Q2 Results: Eicher Motors on Wednesday reported a consolidated net profit (attributable to owners of the firm) of ₹1,100.33 crore for the quarter ended September, 2024 (Q2FY25), which was up by 8.27% over ₹1,016.25 crore reported by the company in the year-ago period (Q2FY24). Sequentially, the consolidated net profit was marginally down from ₹1.101.46 crore. On Wednesday, Eicher Motors share price ended 3.15% lower at ₹4,589.10 apiece on BSE.

The firm's consolidated revenue from operation for the quarter ended September stood at ₹4,186.38 crore, which was up by 3.8% from ₹4,033 crore reported in the corresponding quarter of the previous financial year.

The company reported total expenses of ₹3,368.55 crore for the quarter ended September, an increase from ₹3,182.59 crore recorded during the same quarter of the last financial year. This represents a rise of 5.84%.

The manufacturer of Royal Enfield reported an EBITDA of ₹1,088 crore for the quarter of July to September, compared to ₹1,087 crore during the same quarter of the last financial year.

According to the company's exchange filing, Royal Enfield sold 2,25,317 motorcycles in the quarter, a decrease from 2,29,496 motorcycles sold in the same quarter of FY 2023-24.

In Q2 FY 2024-25, VE Commercial Vehicles Ltd (VECV) reported operational revenue of ₹5,538 crores, reflecting an 8.0% increase compared to the ₹5,126 crores earned in the previous year. The profit after tax was ₹209 crores, compared to ₹187 crores in the previous year. In the second quarter, VECV reported sales of 20,774 vehicles, an increase from 19,551 vehicles sold last year.

“During this quarter, we have continued to sustain the momentum both at Royal Enfield and VECV. At EICMA, earlier this month, we launched two motorcycles on our 650-Twin platform; the Bear 650, and the Classic 650. In addition to this, Royal Enfield marked its foray into electric mobility with a new EV brand - the Flying Flea. On the commercial vehicle front, VE Commercial Vehicles delivered its best Q2 ever, with strengthened market shares in truck segments. This is commendable against the backdrop of lower industry volumes as compared to Q2 of last year,” said Siddhartha Lal, Managing Director, Eicher Motors.

Eicher Motors share price

According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, Eicher Motors share prices have seen along with the broad based selling and has approached its critical support level. the long term 200 sma is placed around 4,500 which coincides with multiple swing lows. As of now the momentum is down and 4,500 would be pivotal a break below this levels could trigger further weakness whereas a bounce can trigger re attempt of 4,900 zone.

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