Hero MotoCorp Shares Rocket 4% As Profit Jumps 15% To ₹1,016 Cr

Hero MotoCorp shares continued to gain on Wednesday after the company posted its earnings for the quarter ended March.

What Happened: The company’s revenue from operations for the quarter stood at ₹9,519 crore, up 15% from the
₹8,307 crore posted in the same quarter last year. The auto major’s net profit for the quarter was at ₹1,016 crore, reflecting a growth of 18% over ₹859 crore reported in the previous year.

EBITDA for the March quarter stood at ₹1,359 crore, up 25% YoY. EBITDA margin for the quarter was at 14.3%, reflecting an improvement of 120 bps YoY basis. The company attributed the improvement to a better product mix, lower commodity costs, higher savings, and judicious price increases.

See Also: Bharat Forge Share Price Takes A Dip Ahead Of Q4 Print As Family Feud Takes Centre Stage

The company also declared a final dividend of ₹40/- per share. The company sold 13.92 lakh units of motorcycles and scooters in the March quarter.

Niranajna Gupta, the Hero MotoCorp’s CEO said that the company expects the macro‐economic factors to aid the industry's growth. “With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters.”

Price Action: Hero MotoCorp’s share price was up 3.68% to trade at ₹4,641.45 in the late hours of trading on Wednesday.

Read Next: Larsen & Toubro Bags Major Renewable Energy And Grid System Orders

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
Posted In: EarningsEquitiesNewsMarketsMoversTrading IdeasHero Motocorp

Loading...