Royal Enfield reports 3% rise in revenue for third quarter

Must Read

Jharkhand polls for 81 constituencies from November 30 to December 20; counting on 23rd December

Addressing a press meeting today, Chief Election Commissioner Sunil Arora has announced the poll dates for Jharkhand Legislative assembly....

Congress forms six-member committee of AICC to review situation of NRC in Assam

In a bid to review the condition of Assam state after the implementation of the NRC exercise, Congress party...

Shiv Sena elects Eknath Shinde as party’s legislative leader; Sunil Prabhu appointed as chief whip of party

In a striking breakthrough, Shiv Sena elected senior minister Eknath Shinde as the party's legislative leader today. It has...

Royal Enfield’s parent company Eicher Motors Limited, announced its result for the third quarter of the current fiscal year. The company has reported a 3% rise in the revenue from the sales operation of  Royal Enfield taking its revenue to Rs 2,341 Crore from Rs 2,269 Crore of the same quarter, in the previous fiscal.

But the number of Enfield’s sold witnessed a 6% decline in numbers. It sold 1,93,871 in the current quarter, compared to 2,02,736  motorbikes in the same quarter of previous fiscal.

The Earnings before Interests, Taxes, Depreciation and Amortization (EBTIDA), were also 6% down to Rs 680 crore from RS 707 Crore compared to third quarter of previous fiscal. A marginal 2% rise was seen in the Profit after taxes(PAT) taking it to Rs 533 Crore for the said fiscal.

Commenting on Royal Enfield’s performance, Siddhartha Lal, MD and CEO Eicher Motors Ltd, said, “The latter half of 2018 was a challenging period for the two-wheeler industry in India. Factors like increased insurance requirements, rising raw material costs and the subsequent price increase due to regulatory safety requirements impacted the momentum of the industry. Royal Enfield’s market share recorded improvement on a sequential basis, while volumes in the quarter were impacted. We believe this is a temporary impact due to a price reset. We continue to remain optimistic about the trend of premiumisation in the motorcycling industry, and are confident that this trend will continue in the future.”

In the third quarter, Enfield launched 3 motorbikes viz. the new 650 Twin motorcycle, Continental GT 650 and the Interceptor 650. The retail sales have already been started India, while deliveries in the foreign market will kick-start soon.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisement -

Latest News

Lok Janshakti Party releases two list of candidates for upcoming Jharkhand elections

Ahead of the Jharkhand assembly polls, Chirag Paswan-led Lok Janshakti Party announced the two lists of candidates for the...

DDoS attacks rose by a third in Q3 2019: Kaspersky

New Delhi, Nov 13 (IANS) In the third quarter of 2019, the number of Distributed Denial of Service (DDoS) attacks rose by a third...

Ayushmann’s ‘Dream Girl’ heads to Hong Kong

Mumbai, Nov 13 (IANS) Actor Ayushmann Khurrana's "Dream Girl" will release in Hong Kong on December 5.Zee Studios International, who distributed the film globally...

Apple introduces 16-inch MacBook Pro for Rs 199,900

Cupertino (California), Nov 13 (IANS) Apple on Wednesday unveiled an all-new 16-inch MacBook Pro with up to 80 per cent faster performance for Rs...

Chhattisgarh CM to meet President on Paddy procurement

New Delhi, Nov 13 (IANS) Chhattisgarh Chief Minister Bhupesh Baghel is to meet President Ram Nath Kovind on Thursday on the issue of procurement...
- Advertisement -

More Articles Like This