Hero MotoCorp, India’s largest two-wheeler maker, on Wednesday reported a 35 percent year-on-year rise in its net profit for the March quarter at Rs 967.4 crore.
Net sales came in at Rs 8,564 crore, 15.34 percent higher than the Rs 7,425 crore reported in the same quarter last fiscal. The company’s earnings before interest, tax, depreciation and amortisation (EBITDA) margin for the reporting quarter stood at 16.0 percent.
The Delhi-based company’s net profit was in line with analysts’ expectations. The Reuters poll had estimated the company to report a net profit of Rs 960.5 crore, along with sales of Rs 8,626 crore.
The Pawan Munjal-led company saw a sharp rise in volumes last quarter to 2 million units, which was nearly 25 percent higher than in the same quarter last year, as demand from rural markets picked up.
The company’s domestic volumes grew by 24 percent year-on-year to 1.9 million units on the back on strong demand for best-selling products like Splendor and HF Dawn. Exports grew 40 percent to 71,979 units during the quarter.
Apart from its March quarter numbers, the company also announced a dividend of Rs 40 per share for the quarter ended March, taking its total dividend for the year to Rs 95 per share.
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