New Delhi, May 11 (PTI) 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.

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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.

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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.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)