New Delhi: VE Commercial Vehicles (VECV), the joint venture between the Volvo Group and Eicher Motors, on Wednesday reported its highest-ever first quarter sales, supported by robust growth in revenue and steady profitability during the April-June period of FY27.
The company sold 24,815 vehicles in the first quarter of FY27, marking a 14.8 per cent increase from 21,610 units in the corresponding period last year.
Revenue from operations rose 16.6 per cent to Rs 6,610 crore in the April-June quarter, compared with Rs 5,671 crore a year earlier.
EBITDA increased 6.1 per cent to Rs 541 crore from Rs 511 crore in the year-ago period, while profit after tax grew to Rs 300 crore from Rs 288 crore.
Commenting on the performance, VECV Managing Director and Chief Executive Officer B. Srinivas said the company delivered its best-ever first quarter while retaining its leadership position in the light and medium-duty truck segment.
He said the company continued to focus on modernising the commercial vehicle industry through product innovation and network expansion.
During the quarter, VECV launched the Volvo FMX Edge mining truck, which it said would enhance mining productivity through higher payload capability, improved safety, increased uptime and better lifecycle value.
The company also expanded its customer service network by adding 30 new touchpoints to strengthen after-sales support for Eicher commercial vehicle customers.
In addition, VECV signed a memorandum of understanding with the Ministry of Road Transport and Highways under the PARIVARTAN fleet modernisation scheme for the National Capital Region to support the transition towards a cleaner and more efficient commercial vehicle fleet, Srinivas said.
