The company had posted net profit of Rs 526 crore in the corresponding period of the previous fiscal year.
Total revenue from operations last quarter stood at an all-time high at Rs. 3,193 crores, which is an increase of 8.6% compared to Rs. 2,940 crores in the year-ago period. EBITDA (Earnings before interest, tax, depreciation and amortisation) went up 19.3% to Rs. 757 crores.
During the quarter under review, Royal Enfield recorded sales of 182,125 motorcycles, down by 10.4% from 203,343 motorcycles sold during the same period in FY21.
For the entire financial year (FY22) the company registered net profit of Rs 1,677 crore, which is an increase of 24.5% when compared with Rs 1,347 crore reported in the year-ago period. Total revenue from operations rose 18.1% to a record Rs. 10,298 crores. aided by Royal Enfield’s robust performance in international markets. EBITDA went up 22% to Rs. 2,172 crores.
Last fiscal, Royal Enfield registered motorcycle sales at 595,474, down 2.3% from 609,403 in FY 2020-21.
Siddhartha Lal, Managing Director, ., said despite supply challenges disrupting in operations, improved demand in the local market and strong traction in international business supported volumes at Royal Enfield. He said, “During this year, our international markets growth story (at Royal Enfield) showed stellar performance with more than 100% growth YoY as we continued to deliver sustained results in the domestic market.
In FY22, VECV’s net profit nearly doubled to Rs 111 crore, from Rs 57 crore in FY21. Revenue from operations was Rs. 12,724 crores, up by 46.7% over the previous year’s revenue of Rs. 8.676 crores. EBITDA stood at Rs. 716 crores, 21.2% higher than Rs. 590 crores last year. VECV recorded sales of 57,077 vehicles last fiscal, marking a growth of 38.3% over 41,268 vehicles in FY21.
“At VECV, our performance was extremely encouraging. With a resilient business model, and strong planning and execution, we have remained profitable across business cycles. We have continued to strengthen market presence with expansion in our distribution network as well as a strong product range, including the widest range of CNG trucks. With the commercial vehicle industry back on the growth path, we are confident about maintaining our strong momentum” added Lal.
closed at Rs 2436 apiece, up by 2.21% on the Bombay Stock Exchange (BSE). The results were announced after market hours.