Royal Enfield operations keeps Eicher Motors 2013 Q3 sales and growth positive

EicherDespite, that their 2013 Q3 sales are lower than that of Q3 of 2012 when sales were 10791 units. For the year thus far sales stands at 32984 units as compared to 37096 units sold for the first 3 quarters of 2012. However with Royal Enfield sales added, overall Eicher profit after tax stood at 61.8% for Q3 2013 as compared to 33% PAT for Q3 2012

Commenting on the company’s performance Mr Siddhartha Lal, Managing Director & CEO, Eicher Motors Limited said, “Eicher Motors Limited has been doing extremely well in spite of the continued down trend in the Indian economic scenario. For the third quarter ending September 30, 2013, we have recorded our highest ever total income from operations at Rs 1736.1 crores. We have also seen a record growth of 95.8% in our earnings before interest and tax (EBIT) for Q3 2013. We will continue to remain focussed on our profitability and work towards increasing our marketshare in all segments we operate in.”

On VECV’s performance Mr Siddhartha Lal, Managing Director & CEO, Eicher Motors Limited said, “We have continued to improve our overall marketshare in commercial vehicles through our 50:50 joint venture with the Volvo Group – VE Commercial Vehicles (VECV). For the nine month period ending September 30, 2013 while the industry declined by 33.6%, we improved our Heavy Duty market share to 4.5% from 3.7% in the corresponding period last year. Our products in the bus segment continue to do well. Even in this segment we have increased our market share to 13.9% from 12% for YTD September 2013.”

In Q3 2013, Eicher Motors Limited reported its best ever standalone results- relating entirely to Royal Enfield motorcycle operations, with a quarterly total income from operations at Rs 459 crores, an increase of 66.2% over Rs. 276.1 crores in Q3 2012. The quarterly operating profit (EBIT) recorded an increase of 116.9% at Rs 80.5 crores in Q3 2013 over Rs 37.1 crores in Q3, 2012.