Hero MotoCorp net profit rises almost 500% to Rs 365 cr in June quarter

The company said it has sold more than a million units of motorcycles and scooters in the first quarter despite coronavirus related disruptions

Hero MotoCorp reported a standalone net profit of Rs 365 crore for the first quarter, up by a massive 498 per cent when compared with a meagre Rs 61 crore in the same period last year.

However, the profit fell 58 per cent on a sequential basis. It was Rs 864 crore in the March quarter.

Revenue from operations of one of India's leading two-wheeler company came in at Rs 5,487 crore in the reporting quarter, up 85 per cent from Rs 2,971 crore in the year-ago period.

Earnings before interest, tax, depreciation, & amortization (EBITDA) for the quarter stood at Rs 515