Eicher Motors on Friday mentioned its consolidated web revenue after tax elevated by 16 per cent to Rs 610 crore for the fourth quarter ended March 31, 2022.
The firm had reported a web revenue after tax of Rs 526 crore within the January-March quarter of the 2020-21 fiscal.
Total income from operations rose to Rs 3,193 crore within the fourth quarter as in comparison with Rs 2,940 crore in the identical interval of FY21, Eicher Motors mentioned in a regulatory submitting.
For the 12 months ended March 31, 2022, the corporate posted a consolidated web revenue after tax of Rs 1,677 crore as in opposition to Rs 1,347 crore in 2020-21 fiscal.Total income from operations rose to Rs 10,298 crore over the last fiscal as in contrast with Rs 8,720 crore in FY21.
This was the corporate’s highest-ever income within the fourth quarter in addition to the complete fiscal, it added.
The firm mentioned its board permitted a dividend of Rs 21 per share of face worth of Re 1 every for 2021-22.
Royal Enfield, the corporate’s two-wheeler arm, offered 1,82,125 bikes within the fourth quarter, a dip of 10 per cent from 2,03,343 items offered within the year-ago interval.
During 2021-22, Royal Enfield registered bike gross sales of 5,95,474, down 2 per cent from 6,09,403 items in 2020-21.
VECV, the corporate’s JV with Volvo Group, reported income from operations at Rs 12,724 crore for the final fiscal, as in opposition to Rs 8,676 crore in FY21.
Profit after tax stood at Rs 111 crore in comparison with Rs 57 crore final 12 months.VECV recorded gross sales of 57,077 autos for 2021-22, marking a progress of 38 per cent over 41,268 items in 2020-21.
“The year gone by was very significant for Eicher Motors, as we registered considerable progress towards our long term strategic business vision,” Eicher Motors Managing Director Siddhartha Lal famous.
Over the final eight years, the corporate has made concerted efforts in changing into a premium, world participant, concentrating on a number of the hardest bike markets on this planet, with an ambition to sustainably develop abroad presence and enterprise, he added.
“During this year, our international markets growth story showed stellar performance with more than 100 per cent growth YoY as we continued to deliver sustained results in the domestic market,” Lal mentioned.
At VECV, the corporate’s efficiency was extraordinarily encouraging, he added.Royal Enfield’s newly-appointed CEO B Govindarajan famous that regardless of persistent challenges on the provision entrance and COVID-induced disruptions final 12 months, the two-wheeler maker has made exceptional progress concerning strategic long-term imaginative and prescient.
“As we move forward, we remain focused on creating products and offering experiences that stay true to our philosophy of pure motorcycling. As the supply chain settles and the market starts getting buoyant, we are ready to ramp up and grow Royal Enfield to new heights,” he added.
In a web-based press convention, the corporate’s administration said that the automaker has lined up about Rs 1,100 crore capital expenditure (capex) for each Royal Enfield and VECV companies within the present fiscal.
On its plans concerning entry into the EV area, Lal mentioned the corporate has been making quite a lot of progress internally.
“We are not a company which would rush into the market with a half baked product and hope for the best..we are not going to see them in the next few years..we may not be the first in the market but we will be best in the market for sure,” he famous.
Source: www.financialexpress.com”