Total revenue from operations for the quarter under review stood at Rs 4,256.04 crore, which was 12% higher than Rs 3,804.32 crore reported in the corresponding quarter of the previous financial year. On a quarter-on-quarter (QoQ) basis, the revenue grew nearly 2%.
The company’s board of directors declared a final dividend of Rs 51 per share for FY 2023-24 with a payout of Rs 1,396.41 crore which accounts for 34.9% of FY24 PAT of Rs 4,001.01 crore.
The Royal Enfield motorcycles manufacturer said that this was its eighth consecutive quarter of highest revenues and highest PAT. It was also its best ever annual financial performance with highest ever revenues at Rs 16,536 crore. The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) was also its highest in the said period at Rs 4,327 crore.
For the quarter ended March 31, 2024, EBITDA stood at Rs 1,129 crore, up 21% as compared to Rs 934 crores in the same quarter of the previous financial year.During the quarter, Royal Enfield recorded sales of 227,925 motorcycles, up by 6.17% from 214,685 motorcycles sold during the same period in FY 2022-23. Meanwhile in FY 2023-24, Royal Enfield registered motorcycle sales at 9,12,732 (standalone), up by 9% from 834,895 (standalone) in FY 2022-23.VE Commercial Vehicles (VECV), a joint venture between Volvo Group and Eicher Motors, reported revenue from operations at Rs 21,868 crores, up by 15.38% over the previous year’s revenue of Rs 18,952 crores. EBITDA for FY 2023-24 was Rs 1,715 crores, 25.27% higher than Rs 1,369 crores in the last year. The net profit stood at Rs 823 crores which was up 42.06% from Rs 579 crores last year.VECV recorded sales of 85,560 vehicles for FY 2023-24, marking a growth of 7.46% over 79,623 vehicles in FY 2022-23.
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