During the second quarter of FY23, Eicher Motors recorded the highest net profit, showing a 76 per cent rise to Rs 657 crore compared to Rs 373 crore in the second quarter of FY22.

• Ashwini Vaishnaw Encourages German Companies to Invest in India
• Flipkart Appoints Dan Bartlett to Board
• IIT Bombay Sets Up Rs 100 Crore Venture Capital Fund for Startups 
• Tata Power Inks MoU with Asian Development Bank for $4.25 Billion 
• Innovators Facade Shares Skyrocketed 11% on Securing Orders Worth Rs 110 Crore 

The company’s revenue from operation recorded 56 per cent at Rs 3,519 crore compared to Rs 2,250 crore in Q2FY22. The earnings before interest, taxes, depreciation and amortization (Ebitda) were also up 75 per cent to Rs 822 crore compared with Rs 470 crore in Q2FY22.

Eicher Motors, the maker of Royal Enfield, sold 203,451 units in the second quarter of FY23, 65 per cent going up from 123,515 motorcycles sold over the second quarter of FY22.

“We have seen the highest revenue from operations and profit after tax. We started the quarter with the launch of Hunter 350. The festival season brought in strong sales for Eicher Motors,” said B. Govindarajan, chief executive officer of Royal Enfield and Wholetime Director, EML said that the company’s capital expenditure of Rs 750 crore during 2022-23, out of which over Rs 300 crore is deployed earlier.

On electric vehicles, the Eicher Motor will produce its first product in the next three years.