Eicher Motors said on Friday that its consolidated net profit after tax rose 16% to Rs 610 crore for the fourth quarter ended March 31, 2022.
The company had reported a net profit after tax of Rs 526 crore in the January-March quarter of the 2020-21 financial year.
Total revenue from operations reached Rs 3,193 crore in the fourth quarter, compared to Rs 2,940 crore in the same period of FY21, Eicher Motors said in a regulatory filing.
For the financial year ended 31 March 2022, the company posted a consolidated net profit after tax of Rs 1,677 crore compared to Rs 1,347 crore in the financial year 2020-21.
Total revenue from operations reached Rs 10,298 crore in the last fiscal year from Rs 8,720 crore in FY21.
This is the highest revenue ever for the company in the fourth quarter as well as for the full fiscal year, he added.
The company said its board had approved a dividend of Rs 21 per share of par value Re 1 each for 2021-22.
Royal Enfield, the company’s two-wheeler arm, sold 1,82,125 motorcycles in the fourth quarter, down 10% from 2,03,343 units sold a year ago.
In 2021-22, Royal Enfield recorded motorcycle sales of 5,95,474, down 2% from 6,09,403 units in 2020-21. VECV, the company’s joint venture with Volvo Group, reported operating income of Rs 12,724 crore last fiscal year, compared to Rs 8,676 crore in FY21. Profit after tax rose at Rs 111 crore against Rs 57 crore last year.
VECV recorded sales of 57,077 vehicles for 2021-2022, marking a growth of 38% compared to 41,268 units in 2020-21.
“The past year has been very significant for Eicher Motors as we have made significant progress towards our long-term strategic business vision,” noted Eicher Motors Managing Director Siddhartha Lal.
Over the past eight years, the company has made a concerted effort to become a leading global player, focusing on some of the world’s most challenging motorcycle markets, with the ambition to sustainably grow its presence and business. abroad, he added.
“During this year, our growth story in international markets has shown outstanding performance with over 100% year-over-year growth as we continue to deliver sustained results in the domestic market,” Lal said.
At VECV, the company’s performance is extremely encouraging, he added.
Royal Enfield CEO B Govindarajan noted that despite continuing challenges on the supply front and COVID-induced disruptions over the past year, the two-wheeler manufacturer has made remarkable progress when it comes to the long-term strategic vision.
“As we move forward, we remain focused on creating products and delivering experiences that stay true to our philosophy of pure motorcycling. As the supply chain settles down and the market begins to get dynamic, we are ready to accelerate and grow Royal Enfield to new heights,” he added.
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