Home Two Wheelers Motorcycles Eicher Motors revenue cracks by 66% in Q1, net loss at Rs...

Eicher Motors revenue cracks by 66% in Q1, net loss at Rs 55 crore

New Delhi: Eicher Motors on Thursday reported 66 per cent fall in its whole revenue from operations to Rs 818 crore in the April to June quarter and a loss of Rs 55 crore as in opposition to a revenue of Rs 452 crore in Q1 FY20.

It had clocked gross sales of Rs 2,382 crore in Q1 FY20. Earnings earlier than curiosity, tax, depreciation and amortisation (EBITDA) have been at Rs 4 crore in the quarter ended June as in comparison with Rs 614 crore in the identical quarter of earlier monetary year.

Royal Enfield bought 58,383 bikes in the quarter, registering a decline of 68 per cent from 181,966 models bought over the identical interval of FY20.

“The previous quarter put forth unprecedented challenges for the industry and for Eicher Motors,” said Managing Director Siddhartha Lal.

However, the long-term potential for each Royal Enfield and VE Commercial Vehicles (VECV), the truck and bus making company of Eicher Motors, is promising, he said.

“Towards the end of quarter, we have 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.”

Royal Enfield’s manufacturing models resumed operations on May 6 after being suspended on March 23. Retail operations resumed by the unlock phases in a staggered method.

The company said it has 921 dealerships and 638 studio shops open and practical throughout the nation.

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