Hero MotoCorp Q4 net dips over 24% to Rs 730 cr

The country's largest two-wheeler maker Hero MotoCorp Friday reported 24.5 per cent decline in its standalone net profit at Rs 730.32 crore for the fourth quarter ended March 31, 2019.

The company had posted a net profit of Rs 967.40 crore during the same period last year, Hero MotoCorp said in a regulatory filing.

Total income from operations declined to Rs 8,049.18 crore during the March quarter as compared with Rs 8,730.54 crore during the same period in previous fiscal, it added.

The company sold 17,81,160 units during the fourth quarter, down 11.1 per cent from 20,01,595 units sold in the same period of 2017-18.

For the fiscal 2018-19, Hero MotoCorp posted a net profit of Rs 3,384.87 crore, down 8.45 per cent from Rs 3,697.36 crore in the 2017-18 financial year.

The company sold 78,20,745 units in 2018-19 as compared with 75,87,154 units in 2017-18.

The company's board recommended a final dividend of Rs 32 per equity share of Rs 2 each (1,600 per cent) for 2018-19.

Shares of Hero MotoCorp Friday ended 0.51 per cent lower at Rs 2,604.15 per scrip on the BSE.