You are here: Home » Companies » Results
Business Standard

Q3 results: Hero MotoCorp consolidated profit up 14% at Rs 1,029 crore

The company had reported a net profit of Rs 905.13 crore in the October-December period of the previous fiscal

Topics
Hero MotoCorp | Q3 results | Hero group

Press Trust of India  |  New Delhi 

hero motocorp, two-wheeler, 2-wheeler sales, auto, manufacturing, bike, production, workers, jobs
Revenues from operations rose to Rs 9,775.77 crore, as against Rs 6,996.73 crore in the October-December period.

The country's largest two-wheeler maker has posted 13.7 per cent increase in its consolidated profit after tax at Rs 1,029.17 crore for the third quarter ended December 31, 2020.

The company had reported a net profit of Rs 905.13 crore in the October-December period of the previous fiscal.

The two-wheeler major's revenue from operations rose to Rs 9,827.05 crore during the period under review, as compared to Rs 7,074.86 crore in the third quarter of 2019-20, said in a regulatory filing.

On a standalone basis the company reported 23.17 per cent increase in its PAT at Rs 1.084.47 crore, as against Rs 880.41 crore in the same period of the previous fiscal.

Revenues from operations rose to Rs 9,775.77 crore, as against Rs 6,996.73 crore in the October-December period of the previous fiscal.

"Our performance in the third-quarter underlines the company's operational strength and ability to perform well despite a challenging and volatile environment," Chief Financial Officer (CFO) Niranjan Gupta said.

The company has been able to drive profitable growth through improvement in market shares, acceleration of savings initiatives, continued control on overheads, and cash flow management, he added.

"Going forward, we expect input costs to remain under pressure due to the rising prices of commodities and fuel. The price increase on our range of products that we undertook from January 1 will partially offset these cost pressures. We will continue to focus on driving cost savings, and take judicious price increases if & when necessary," Gupta said.

The company's board declared an interim dividend of Rs 65 per share (3,250 per cent).

In addition, the company has also announced a special interim dividend of Rs 100 crore, i.e. Rs 5 per equity share, to mark the historic milestone of achieving 100 million cumulative production of two wheelers, taking the aggregate interim dividend to Rs 70 per share.

On January 21, 2021, Hero MotoCorp surpassed the 100-million units cumulative production mark.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, February 05 2021. 10:15 IST
RECOMMENDED FOR YOU
.