Hero MotoCorp on May 4 reported a standalone net profit for the quarter ended March of Rs 859 crore, registering a year-on-year (YoY) growth of 37 percent over Rs 627 crore reported a year back.
The revenue from operations came in at Rs 8,307 crore, rising 12 percent over Rs 7421 crore reported in the year-ago quarter, said the two-wheeler maker in a regulatory filing.
On the operating front, EBITDA (earnings before interest, taxes, depreciation and amortization) rose 30.9 percent to Rs 1,083 crore from Rs 827.6 crore in the year-ago period. Margins expanded to 13 percent from 11.2 percent in Q4 FY22 driven by lower commodity costs, higher savings, and price increases.
The company declared a final dividend of Rs 35 per share taking the total dividend for the year to Rs 100.
“In coming fiscal year, we have lined up slew of product launches in different segments with an aim to strengthen our premium portfolio as well as premiumization of existing models, which will help us deliver improvement in market share,” said Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp.
“Economic activity in India continues to build momentum with key indicators moving in positive direction. We do expect 2-wheeler industry revenue growth to be double digit in the coming year.”
The company said it is accelerating its EV rollout, with plan to be in 100 cities within this calendar year. Apart from exclusive Vida outlets in certain cities, Hero said it will be using existing distribution system across cities to ensure wider reach.
The company added that the recent price revision now makes Vida accessible to more customers, and it expects this will increase the EV transition in scooter category.
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