Hero MotoCorp Q4 Results: PAT jumps 18% YoY to Rs 1,016 crore; dividend declared at Rs 40 per share
Two-wheeler major Hero MotoCorp on Wednesday reported a standalone net profit of Rs 1,016.05 crore for the quarter ended March 31, 2024, which was up by over 18% versus Rs 858.93 crore reported by the company in the year-ago period. The profit was broadly in line with the Street's estimates of Rs 1,026 crore.
The standalone revenue from operations stood at Rs 9,519 crore for the reported quarter, 14.6% higher over Rs 8,306.78 crore reported in the corresponding period of the last financial year.
The two-wheeler company also announced a final dividend of Rs 40 per share for FY24.
This was also its highest-ever revenue and profit after tax (PAT) for any financial year.
The company sold 13.92 lakh units of motorcycles and scooters in Q4FY24 versus 12.70 lakh units in Q4FY23. For the full financial year, the number of units sold stood at 56.21 lakh versus 53.29 lakh units FY23.
The earnings before interest, tax, depreciation & amortization (EBITDA) for Q4FY24 stood at Rs 1,359 crore, registering a growth of 25% on a YoY basis. The profit before tax (PBT) stood at Rs 1,350 crore for the reported quarter.
Net profit for the full financial year stood at Rs 3,968 crore, growth of 36% on a YoY basis. The revenue from operations for the full year stood at Rs 37,456 crore, a 11% growth over the previous year.
On the earnings, Niranjan Gupta, chief executive officer (CEO) of Hero MotoCorp, said FY24 was a «remarkable period» and the focus on product launches, network upgrade and customer satisfaction drove the company to
