Eicher Motors on Thursday reported consolidated loss of Rs 55 crore in quarter ended June 30 against profit of Rs 452 crore during the same period last year. The company’s revenue from operations slumped 66 per cent to Rs 818. Eicher Motors had reported revenue of Rs 2,382 crore in June quarter of 2019. EBITDA or earnings before, interest, tax, depreciation and amortization also known as operating profit came in at Rs 4 crores as compared to Rs 614 crores in the same quarter of the previous financial year.
Royal Enfield sold 58,383 motorcycles in the quarter, a decline of 68 per cent from 181,966 motorcycles sold over the same period in FY 2019-20., Eicher Motors said in a press release.
“The previous quarter put forth unprecedented challenges for the industry and for Eicher Motors. However, we believe that the long term potential for both Royal Enfield and VECV is very promising. Towards the end of the quarter we’ve witnessed encouraging consumer sentiment which was evident in our sales for the month of June. We believe that this trend will continue into this quarter as well,” Siddhartha Lal, Managing Director of Eicher Motors said in a statement.
Eicher Motors shares ended 2 per cent lower at Rs 21,671, underperforming the Sensex which ended on a flat note.
