Hero MotoCorp, the world's largest manufacturer of motorcycles and scooters, today reported its financial performance for the quarter and period ended December 31, 2023.
Highlights for Q3 FY'24 (Oct?Dec'23)
- Volume - 14.60 lakh units of motorcycles and scooters sold in Q3 FY'24
- Revenue from operations - Rs. 9,724 Crore, (vs Rs. 8,031 Crore)
- Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the Quarter stood at Rs. 1,362 Crore, growth of 47%
- Net Profit After Tax (PAT) - Rs. 1,073 Crore, growth of 51%
Highlights for FY'24 (April?Dec'23)
- Volume - 42.29 lakh units of motorcycles and scooters sold in nine months FY'24
- Revenue from operations - Rs. 27,936 Crore, (vs Rs. 25,499 Crore)
- Earnings Before Interest, Tax, Depreciation, & Amortization (EBITDA) for the nine months stood at Rs. 3,897 Crore, growth of 34%
- Net Profit After Tax (PAT) - Rs. 2,952 Crore, growth of 44%
The company declared an interim dividend of Rs. 75 per share and a special dividend of Rs. 25 per share, taking the overall Interim dividend to Rs. 100/- share, commemorating the centennial year of Chairman Emeritus Dr. Brijmohan Lall Munjal.
The overall Revenue from Operations for the quarter grew by 21%, and EBITDA margins at 14% improved by 250 bps over the corresponding quarter previous year, aided by commodity cost, leap savings, premiumisation and judicious price changes.
The Company's PAT for Q3 stands at Rs. 1,073 Crore, (vs Rs. 711 Crore, corresponding quarter in the previous year) reflecting a growth of 51%.
The consolidated Revenue and PAT for the quarter was Rs. 9,788 Crore and Rs. 1,091 Crore.
The Company's focus on Parts Accessories & Merchandise (PAM) business has led to the business crossing annualised revenue of Rs. 5,000 Crore. To support growth in this business, the Company has planned for an expansion of its capacity with an outlay of Rs. 600 Crore.
Mr. Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, "The government's emphasis on infrastructure development, while ensuring fiscal prudence in its recent interim budget, has created a conducive business and economic environment, which would facilitate higher growth and job creation.
Our recent launches in premium segment have met with early success, and we are ramping up capacity of our upper premium models. At the Hero World event in the month of January, we unveiled 2 more premium motorcycles ? the Xtreme 125 R, and Mavrick 440. We will keep fortifying our premium portfolio backed by strong brand building and best in class 'phygital' customer experience. Moving forward, our Margin shape will allow us to fuel our growth even more.
We have now expanded our EV presence to 100 citiesin the country and we are rapidly building the charging infrastructure in collaboration with Ather. In coming fiscal, we will be launching new products in mid and affordable segment as well. We believe we are well placed to accelerate growth and increase our market shares as we move forward."
Shares of Hero MotoCorp Limited was last trading in BSE at Rs. 4908.50 as compared to the previous close of Rs. 4809.95. The total number of shares traded during the day was 18355 in over 2459 trades.
The stock hit an intraday high of Rs. 4924.05 and intraday low of 4793.00. The net turnover during the day was Rs. 89148713.00. |
