Royal Enfield’s parent company Eicher Motors Limited (EML) has announced net profit of ₹456 crore for the third quarter of the current fiscal, a decline of 14 per cent as compared to ₹533 crore reported a year ago. For the quarter ended December 31, 2021, Eicher Motors Limited reported a total revenue of Rs 2,881 crore, a growth of 1.9 per cent as compared to Rs 2,828 crore in the corresponding quarter of FY 2020-21, the company said in a statement. . EBITDA stood at ₹582 crore as compared to ₹672 crore in the corresponding quarter of the previous financial year.
Read also: Royal Enfield shotguns put to the test yet again
In the quarter under review (October to December, 2021), Royal Enfield sold 1,67,664 motorcycles, a decline of 15.6 per cent from 1,98,557 motorcycles sold in the same period in FY 2020-21. However, Royal Enfield continued its strong growth momentum in the international markets with total exports of 17,036 units, up 57 per cent as compared to 10,833 units in the same period last year.
Read also: Royal Enfield Scream Brochure Leaked Ahead of Launch
According to the company, the global shortage of semiconductor chips and the onset of the third wave of COVID-19 with the Omicron variant affected the quarterly results. However, Eicher Motors reported 28 per cent growth in revenue (over ₹2,250 crore) and 35.3 per cent sequential growth in EBITDA (earnings before interest, tax, depreciation and amortization) as compared to Q2 FY22. Recorded a fairly gradual improvement. ₹ 430 crore, the company added.
Read also: Royal Enfield Super Meteor 650 Spotted on Testing in New Video
Siddhartha Lal, Managing Director, Eicher Motors Ltd. says that the company is working on creating an alternative vendor ecosystem to mitigate the impact of semiconductor shortage.
Commenting on the performance of Eicher Motors, Siddhartha Lal, Managing Director, Eicher Motors Limited said, “The continued global shortage of semiconductor chips and the onset of the third wave of the COVID-19 pandemic posed a challenge for the industry at large. Q3. We are working towards creating an alternative vendor ecosystem to mitigate the impact of shortages on the supply front. Our performance remains resilient despite challenges. Our international performance has been strong, and all-new The launch of the Classic 350 sparked significant consumer interest in India and global markets. This is reflected in our financial performance with a sequential increase in EBITDA margin of 1.1% quarter-on-quarter (adjusted for lump sum). At VECV, we have all We have made good progress across sectors backed by our focused and nuanced approach. We achieved encouraging growth despite supply chain challenges. Our continued efforts to align our next phase of growth with a new ESG approach, the Dow Jones earnings Shar Motors Limited as one of only ten global automotive companies to be included in its Distinguished List of Dow Jones Sustainability Index 2021 (DJSI) in the Emerging Markets category.
Read also: Royal Enfield Super Meteor South Pole Expedition Leaked in Video
Royal Enfield Classic 350 has been the best selling model of the brand for over a decade now.
B Govindarajan, Executive Director, Royal Enfield, said, “Our growth momentum at Royal Enfield has remained steady, highlighted by consistent performance in international markets. Performance across Europe and the US has registered an increasing trend, and we Continuing to deepen presence. and engagement in these markets. During the quarter, we further enhanced our commitment to the Asia-Pacific region with the commencement of operations at our CKD facility in Thailand. This facility allows us to see growing demand in the region. efficiently, and at the same time be a hub for the rest of South East Asia.
“The all-new Classic 350, since its launch in India, has been launched in the APAC markets as well as its debut in Europe at EICMA 2021. We have already manufactured over 1,00,000 units of the new Classic 350. It reiterates consumers’ continued love for the classic’s timeless style and design. Our emphasis on the non-motorcycle business also continues to show strong results, with the division reporting 29% year-on-year We have strong plans for both the apparel and accessories business and will continue to enable options for self-expression and personalization for our consumers. Going forward, we are optimistic that supply chain constraints will gradually ease. It will gradually reduce over the next two quarters and production will stabilize over time.”
Read also: Production of new RE Classic 350 crosses 1,00,000 units
The unique, rich black-chrome tank color scheme is developed with Royal Enfield’s industry-leading chroming technology at the company’s original 1950s manufacturing facility in Tiruvottiyur, Chennai – India. Only 480 units of the Interceptor 650 and the 120-year anniversary model of the Continental GT 650 have been offered for sale globally.
As Royal Enfield completes its 120 years anniversary in 2021, the company showcased this legacy and legacy at the annual global motorcycle show EICMA 2021 in Milan, Italy. The company unveiled the Royal Enfield SG650 concept motorcycle at this year’s EICMA show. Royal Enfield also unveiled the 120th anniversary edition of the brand’s flagship 650 twin motorcycles, the Interceptor 650 and Continental GT 650, at EICMA 2021. Globally the two premium, special edition motorcycles were delivered with limited production of only 480 units and 120 units for India, Europe, America and South-East Asia.
0 notes
Royal Enfield is working on several new models, including the scrambler-style 411 cc Royal Enfield Scream, which is expected to be launched very soon. Along with the development of the Royal Enfield Super Meteor 650, new models in the 650 twin platform and the faster Royal Enfield Shotgun 650 are also in the works.
for the latest auto news And ReviewFollow carandbike.com Twitter, Facebookand subscribe to our youtube Channel.
,