Hero MotoCorp net rises a tad at Rs 1,010 cr

Company recorded a 10.9% y-o-y growth in sales

Two-wheeler major Hero MotoCorp posted a flat growth in net profit for the quarter ended September 30 at Rs 1,010.49 crore even as it recorded its highest-ever quarterly sales of 2,022,805 units. 

Net revenue from operations came in at Rs 8,362 crore during Q2 in FY18, a growth of 7.3 per cent over the corresponding period last year. The company stated that net revenue from operations on like-for-like basis have grown 11.5 per cent over last year. 

The Ebitda stood at Rs 1,456 crore reflecting 17.4 per cent margin (versus a 17.6 per cent in the year-ago period).

The quarter saw the company record a 10.9 per cent y-o-y growth in sales — from 1,823,498 units in the second quarter of FY17 to 2,022,805 units in the same quarter in FY18. 

For the half-year period this financial year, the net revenue from operations came in at Rs 16,334 crore, a growth of 7.5 per cent. Net profit after tax (PAT) stood at Rs 1,925 crore for the first half of FY18, compared to Rs 1,887 crore in the first half of FY17. 

The company has recorded its highest ever half-yearly sales as well at 3,876,452 units, growing by 8.6 per cent y-o-y. The share price of Hero MotoCorp closed 0.82 per cent lower at Rs 3,823 a share on the BSE. The results were announced after market hours.