Royal Enfield Total Revenue Rises To Rs. 2,341 Crore In Third Quarter

Eicher Motors Limited (EML), the parent company of Royal Enfield, has announced the financial results for the third quarter of the current financial year, from October to December, 2018. In this quarter, Royal Enfield's total revenue from operations grew by 3 per cent, up from Rs. 2,269 crore in the same period a year ago, to Rs. 2,341 crore. Earnings before interest, taxes, depreciation and amortization (EBITDA) was Rs. 680 crore, down by 6 per cent from Rs. 707 crore in the same period a year ago. Profit after Tax (PAT) grew by 2 per cent to Rs. 533 crore from Rs. 521 crore in the same period. Royal Enfield's sales of motorcycles though, felt some pressure in the third quarter. In all, Royal Enfield sold 1,93,871 motorcycles in the quarter, a decline of 6 per cent from 2,02,736 motorcycles a year ago.

royal enfield classic 350

The Royal Enfield Classic 350 is the single largest selling model

Commenting on Royal Enfield's performance, Siddhartha Lal, Managing Director 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."

3in9b8ns

The Royal Enfield 650 Twins were launched in the third quarter of 2018-19

Royal Enfield's latest products, the new 650 Twin motorcycles - the Interceptor 650 and the Continental GT 650 - were launched in the third quarter of the current financial year. During the quarter, the 650 Twins were also launched in the UK and Europe, at the EICMA motorcycle show in Milan, Italy, and also in Thailand, Indonesia, Brazil, Colombia, and Australia. While retail sales have already begun in India, deliveries in the global markets are expected to begin soon.

In the commercial vehicles segment, Eicher's joint venture with AB Volve, VE Commercial Vehicles (VECV) was affected by industry slowdown. VECV's revenue from operations rose by 9 per cent to Rs. 2,818 crore, from Rs. 2,590 crore during the same period a year ago. VECV sold 16,936 trucks and buses in the quarter, growing 4 per cent over the same period a year ago.



from NDTV CarAndBike - Latest News

Comments

Post a Comment

Popular posts from this blog

Harley-Davidson Streetfighter Spotted In Flesh For The First Time

Image
Harley-Davidson unveiled a range of new motorcycles last year that included an adventure tourer, streetfighter and Custom range. This, along with the LiveWire electric motorcycle defines the new-age 21st century offerings from the manufacturer as it taps into newer markets and caters to an evolving customer base. Now, giving a glimpse of the new models out in the open, the new Harley-Davidson Streetfighter was spotted in the prototype version at what seems to be a trade show in the US, giving a good glimpse at motorcycle looks like in flesh. While board says 'Styling Prototype', the production-spec version of the Streetfighter is likely to stay identical to the model showcased here. In addition to the Streetfighter, the Pan America was also showcased at the same event. The production spec versions of both bikes could be unveiled at EICMA this year. Also Read: Harley-Davidson Livewire To Be Unveiled In India In August The Harley-Davidson Streetfighter is a completely new mot...
Read more

Brixton 1200 To Rival Triumph Bonneville T120

Image
A 1200 cc modern classic with similar design lines as Triumph's iconic Bonneville series, has reportedly been cleared for production. The bike was showcased as a concept at last year's EICMA motorcycle show, and from the looks of it, this is a model developed in China with the Triumph Bonneville T120 in its sights. The Brixton brand though is part of Austria's KSR Group, which imports bikes from several Chinese manufacturers, including CF Moto. And while the new Bonneville rival will be manufactured in China, the design and engineering has been created at KSR's design centre in Krups, Austria. Also Read: Triumph Bonnville T120 First Ride Review The Brixton 1200 cc motorcycle has not been named yet, or a launch timeline announced So far, the company has not committed to a launch date yet, but says that it will eventually make it to production. And from the looks of it, that may well be sometime later this year, maybe even at the EICMA 2020 show in Milan, Italy, in...
Read more

Zongshen Cyclone RX6 Based On Norton 650 Nearing Completion

Image
While there still doesn't seem to be a buyer for iconic British brand Norton Motorcycles which went into administration in January this year, the firm's 650 cc parallel-twin seems to be finding life in China. While Norton apparently sold off the engine rights of its 961 engine to China's Jinglang just before the brand went into administration, the deal for the 650 cc engine was finalized way back in 2017 with Chinese giant Zongshen. The 650 cc parallel-twin engine was due to be used in Norton's Atlas and Superlight models, but now it looks like that engine platform will make its debut in a Zongshen motorcycle, called the Cyclone R6. Also Read: How Much Is Norton Motorcycles Worth Now? One of the patent designs shows the Cyclone RX6 with full touring accessories and luggage Two prototypes fitted with the 650 cc parallel-twin engine were shown in China late last year, on the Zongshen Cyclone RX6 adventure bike and the RX6 sport tourer. Both bikes used Zongshen-made...
Read more