Eicher Motors said that its subsidiary VE Commercial Vehicles (VECV) had sold 6,070 units of commercial vehicles in September 2021, registering a growth of 73.1% on a YoY basis.
VECV, the unlisted subsidiary of Eicher Motors, had sold 3,506 units of commercial vehicles in September 2020. The commercial vehicles sales are higher by 26.6% as compared with 4,793 units sold in August 2021.
While total domestic sales of Eicher trucks & buses increased 77.8% to 5,226 units, total exports rose 54.5% to 788 units in September 2021 over September 2020.
Sales of Volvo trucks & buses, at 56 units, remained flat 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.
The company posted a consolidated net profit of Rs 237 crore in Q1 FY22 compared with net loss of Rs 55.18 crore in Q1 FY21. Total revenue from operations was recorded at Rs 1,974 crore, up 141% compared with Rs 818 crore in the corresponding quarter of FY 2020-21.
The scrip shed 0.93% to currently trade at Rs 2764.85 on the BSE.
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