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Hero MotoCorp Q1 results: Profit jumps 6 times to Rs 365 crore, revenue surges 85% YoY

The numbers were below Street expectations as a CNBC-TV18 poll of analysts had estimated profit and revenue at Rs 402 crore and Rs 5,793 crore, respectively.

August 12, 2021 / 07:10 PM IST
The company sold 10.25 lakh units of motorcycles and scooters during the quarter.

The company sold 10.25 lakh units of motorcycles and scooters during the quarter.

 
 
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Hero MotoCorp on August 12 reported a nearly 6 times jump in net profit at Rs 365.4 crore for the quarter ended June (Q1FY22) against Rs 61.3 crore logged in the same quarter last year.

Revenue for the quarter under review jumped to Rs 5,487 crore, up 85 percent against Rs 2,971.5 crore in the corresponding period of the previous fiscal.

EBITDA stood at Rs 514.9 crore against Rs 108.1 crore YoY while EBITDA margin stood at 9.4 percent against 3.6 percent YoY.

The numbers were below Street expectations as a CNBC-TV18 poll of analysts had estimated profit and revenue at Rs 402 crore and Rs 5,793 crore, respectively. EBITDA and EBITDA margin were pegged at Rs 573 crore and 9.8 percent.

The company sold 10.25 lakh units of motorcycles and scooters during the quarter.

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"The first quarter of this fiscal has been adversely impacted by COVID-19. Despite the challenges posed by the pandemic, Hero MotoCorp achieved significant growth in both earnings and profitability compared to the corresponding quarter of the previous fiscal," said Niranjan Gupta, Chief Financial Officer, Hero MotoCorp.

"The company improved its market share in the quarter by more than 200 bps over the full year of FY21."

""The company remains optimistic about demand over the coming months with the start of the festive season and also a healthy monsoon and encouraging farm activity. With last-mile retail opening up further, we expect numbers to be positive as we move forward," Gupta added.
Moneycontrol News
first published: Aug 12, 2021 07:10 pm

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