Eicher Motors said that its unlisted subsidiary VE Commercial Vehicles had sold 6631 units of commercial vehicles in September 2022, which is higher by 9.2% as compared with 6070 units sold in September 2021.
While total domestic sales increased by 14.7% to 5992 units, total exports fell by 35.8% to 506 units in September 2022 over September 2021.Total sales of Volvo Trucks & Buses surged 137.5% from 56 units in September 2021 to 133 units in September 2022.
Separately, Eicher Motors informed that it had recorded a growth of 145% in September 2022 with sales of 82,097 motorcycle units as against 33,529 units in the month of September 2021.
Sales of models with engine capacity upto 350cc had jumped by 191% to 74,206 units while sales of models with engine capacity exceeding 350cc had slipped 1% to 7,891 units in September 2022 over September 2021.
International Business had recorded sales of 8,451 units in September 2022, up by 34% from 6,296 units sold in September 2021.
Eicher Motors is the listed parent of Royal Enfield, the global leader in middleweight motorcycles. In addition to motorcycles, Eicher has a joint venture with Sweden's AB Volvo - Volvo Eicher Commercial Vehicles which operates in India's commercial vehicle space.
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The company's consolidated net profit zoomed 157.81% to Rs 611 crore in Q1 FY23 from Rs 237 crore posted in Q1 FY22. Total revenue from operations was recorded at Rs 3,397 crore, up 72% as compared to Rs 1,974 crore in the corresponding quarter of FY 2021-22.
The scrip declined 1.73% to currently trade at Rs 3,610.20 on the BSE.
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