Eicher Motors Q4 net profit rises 49% to ₹906 crore

Eicher Motors on Thursday said its consolidated net profit increased by 49 per cent to Rs 906 crore for the fourth quarter ended March 31, 2023, on the back of robust sales across domestic and global markets. The company reported a net profit of Rs 610 crore a year ago.

Total revenue from operations rose to Rs 3,804 crore for the fourth quarter as compared with Rs 3,193 crore in the year-ago period, Eicher Motors said in a regulatory filing.

For the year ended March 31, 2023, the company posted a consolidated net profit of Rs 2,914 crore as compared with Rs 1,677 crore in FY22.

Total revenue from operations for FY23 increased to Rs 14,442 crore as against Rs 10,298 crore in the 2021-22 fiscal.

The company said its board has approved a cash outlay of Rs 1,000 crore for 2023-24. The capital would be utilised for electric vehicle manufacturing facility and product development and new product development under internal combustion engine portfolio.

Shares of the company ended 0.25 per cent down at Rs 3,407.05 apiece on the BSE.

SEE ALSO:

TV audience is growing in complexity as idiot box turns smart

L&T Q4 net profit rises 10% to ₹3,987 crore, cautiously optimistic about FY24

AI to digitalisation and green energy: Supertrends defining investment for today and the future