Fashion
Eicher Motors Limited (EML), the parent company of Royal Enfield, has announced its audited consolidated financial results for the second quarter of FY 2021-22. For the quarter from July to September 2021, Eicher Motors Limited’s consolidated net profit rose 9 percent to ₹ 373 crore, as against ₹ 343 crore in the same period last year. The company recorded total revenues of ₹ 2,250 crore, up by 5.4 percent as compared to ₹ 2,134 crore in the same period a year ago. Royal Enfield sold 1,23,515 motorcycles during the quarter, a decline of 17.2 percent from 1,49,120 motorcycles sold over the same period in FY 2020-21.
The Royal Enfield Meteor 350 along with the 650 Twins and the Himalayan have been spearheading the company’s push in the international markets.
The silver lining was that Royal Enfield ended the quarter with best ever performance in international markets for the second successive quarter with total exports at 17,922 units, more than 132 percent increase over the 7,714 units exported in the same period last year, and almost 41 percent increase over Q2 FY 2019-20.
Commenting on Eicher Motors’ performance, Siddhartha Lal, Managing Director of Eicher Motors Ltd. said, “The second quarter of the FY 2022 saw a remarkable performance by Royal Enfield in international markets with a growth of more than 130% over the corresponding period last year. Our consistent growth in volumes and global retail presence is testament to the company being on track to realize its vision of becoming the first premium global consumer brand from India.”
The quarter marked the launch of the all-new Royal Enfield Classic 350, one of the most awaited motorcycles from Royal Enfield this year. On the apparel side of the business, Royal Enfield extended the Make It Yours (MiY) program to its range of riding jackets. In a collaboration that symbolizes an amalgamation of authenticity and safety, Royal Enfield joined hands with TCX to introduce a new range of CE Certified protective riding and lifestyle shoes.
Royal Enfield marked its maiden foray in motorsports this year, with the first edition of the Continental GT Cup 2021. 2021 marks the 120th anniversary of Royal Enfield, and there are several initiatives planned to celebrate this milestone.
