Eicher Motors reported a 20% increase in consolidated profit after tax to Rs 1,101 crore for Q1 FY24, up from Rs 918 crore a year ago. Revenue rose to Rs 4,393 crore from Rs 3,986 crore. Royal Enfield’s motorcycle sales slightly increased to 2,27,736 units, while Volvo Eicher Commercial Vehicles (VECV) saw a 2% rise in revenue to Rs 5,070 crore, with PAT at Rs 319 crore. The company plans a new 2024 Classic launch soon. Positive earnings and sales growth suggest strong performance; however, Eicher Motors’ stock saw a minor decline.
