Eicher Motors, the parent company of Royal Enfield motorcycles, reported a 50% increase in net profit for the first quarter (Q1) of the current fiscal year, amounting to Rs 918 crore, compared to Rs 611 crore during the same period in 2022-23 (FY23), owing to higher sales and revenue.

The company also recorded a record increase in income from operations during the April-June quarter of 2023-24 (FY24), reaching Rs 3,986.4 crore, up 17% from Rs 3,397.5 crore in Q1FY23. The company's earnings before interest, tax, depreciation, and amortisation were Rs 1,021 crore, up 22.8 percent from Rs 831 crore in the same period last year.

Royal Enfield sold 225,368 motorcycles in the quarter, an increase of 21.1 per cent from 186,032 motorcycles sold during the same period in FY23.

The company said on Thursday that it has lined up a capital expenditure of Rs 1,000 crore for Royal Enfield during the current financial year (FY24), up 54 per cent from Rs 650 crore in FY23.