Royal Enfield is the flagship motorcycle brand owned by Eicher Motors.Eicher Motors on Wednesday reported a 21.6 per cent fall in net profit to Rs 451.77 crore in the April-June period, from Rs 576.18 crore in the corresponding period a year ago.
According to a regulatory filing by the company, its revenue declined 6.8 per cent to Rs 2,361.24 crore in the quarter ended June 30, as against Rs 2,534.29 crore in the year-ago period, the Royal Enfield motorcycle maker said.Earnings before interest, tax, depreciation and amortization (EBITDA) also known as the operating profit came in at Rs 614 crore, down 24 per cent compared to Rs 810 crore in the year ago period, Eicher Motors said in a press release.Royal Enfield sold 181,966 motorcycles in the quarter, registering a decline of 19 per cent from 225,286 motorcycles sold over the same period in the last financial year, the Delhi-based company said.Commenting on Eicher Motors' performance, Siddhartha Lal, managing director of Eicher Motors said: "The two-wheeler and the CV industry continue to face headwinds on account of weak consumer demand.""Our preparedness for the BS-VI transition continues to be on track and we are on course to meet regulatory timelines.
In the CV industry, sales have been low due to the weak demand on account of economic slowdown and liquidity and it is also witnessing heavy discounting."Eicher Motors shares ended 1.18 per cent higher at Rs 16,350 outperforming the Sensex which closed 0.22 per cent higher.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com.
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