Q1FY21 results: Eicher Motors records net loss of Rs 55.18 crore

Eicher Motors Ltd., parent of Royal Enfield, announced its quarterly results on August 13, 2020. The company posted a consolidated net loss of Rs 55.18 crore for Q1FY21, which declined by 112.21 per cent, as compared to Q1FY20 when it reported consolidated net profit of Rs 451.77 crore.                                                                                                                                                       

The consolidated net sales reported in Q1FY21 came in at Rs 818.16 crore, which declined by 65.65 per cent YoY from Rs 2,381.92 crore in Q1FY20. At EBITDA level, the company stood at Rs 3.79 crore in Q1FY21 that decreased by 99.38 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 614.47 crore.                                                                                                                                                               

EBITDA margin as of Q1FY21 was at 0.46 per cent that declined by 25.34 per cent YoY. The net profit margin in Q1FY21 came in at -6.74 per cent, which declined by 25.71 per cent YoY. The net profit margin in Q1FY20 was at 18.97 per cent.

Royal Enfield sold 58,383 motorcycles in the quarter with a decline of 68 per cent from 1,81,966 motorcycles sold over the same period in FY19.                     

The share closed 1.96 per cent or Rs 433.05 down at Rs 21,671 in today’s session on BSE.