Eicher Motors said that its unlisted subsidiary, VE Commercial Vehicles (VECV) sold 7,181 units of commercial vehicles (CV) in January 2023, registering a growth of 32.1% compared with 5,434 units sold in January 2022.
On a sequential basis, the company's CV sales declined marginally from 7,221 units sold in December 2022.
During January 2023, the total domestic sales of Eicher trucks & buses grew 50.1% to 6,791 units while total exports slumped 74.9% to 201 units over January 2022.
Total sales of Volvo trucks & buses soared 73.4% to 189 units in January 2023 as compared with 109 units sold in January 2022.
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's consolidated net profit jumped 76% to Rs 656.86 crore in Q2 FY23 from Rs 373.20 crore in Q2 FY22. Total revenue from operations was recorded at Rs 3,519.40 crore, up 56.4% as compared to Rs 2,249.56 crore in the corresponding quarter previous year.
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Shares of Eicher Motors rose 1.03% to close at Rs 3,300 on the BSE.
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