Eicher Motors Reports 48% Surge In Q4 Net Profit, Approves Rs 37 Per Share Dividend For FY23

Eicher Motors announced a consolidated net profit of Rs 905.58 crore for the quarter ending March, reflecting a 48.42 percent increase from the same quarter last year, when it was Rs 610.14 crore.

The Royal Enfield manufacturer's revenue from operations increased by 19.13 percent from Rs 3,193.32 crore in the year-ago quarter to Rs 3,804.32 crore, according to an exchange filing.

The company's board has suggested a final dividend of Rs 37 per share for the financial year that concluded on March 31, 2023. The approval of shareholders at the Annual General Meeting is required to finalize this recommendation.

VECV reported a remarkable increase in quarterly sales, with 26,376 units sold during the quarter, which is 31.3 percent higher than the 20,093 units sold during the same period last year, according to the company.

The Board has sanctioned a cash expenditure of Rs 1,000 crores for Fiscal Year 2023-24, which encompasses investments in the Electric Vehicle (EV) manufacturing facility and the development of new products in both the EV and Internal Combustion Engine portfolios.