Hero MotoCorp Q4 Results: Splendor Plus motorcycle maker clocks 18% profit jump; revenue grows 15%

Hero MotoCorp Q4 FY24 Results: New Delhi-headquartered Hero MotoCorp on Tuesday reported a standalone net profit of Rs 1,016.1 crore for the January-March period, up 18.3 per cent on a year-on-year basis. 

The auto major, whose popular models include Splendor Plus, HF Deluxe, Passion Plus and Pleasure Plus, registered 14.6 per cent growth in revenue to Rs 9,519.3 crore for the fourth quarter of FY24, according to a regulatory filing. 

The motorcycle maker's topline and bottomline were almost in line with analysts' expectations.

According to Zee Business research, Hero MotoCorp's March-quarter net profit was estimated at Rs 1,030 crore and revenue at Rs 9,370 crore.

Hero MotoCorp clocked growth of 25 per cent in earnings before interest, taxes, depreciation and amortisation (EBITDA) to Rs 1,359 crore for the March quarter. 

Its EBITDA margin, a key measure of profitability, improved by 120 basis points on a year-on-year basis to 14.3 per cent, driven by its product mix, lower commodity costs, higher savings, and judicious price increases. 

The motorcycle and scooter manufacturer's quarterly volume increased to 13.92 lakh units from 12.7 lakh units a year ago.

Hero MotoCorp's focus on product launches, network upgrades, and customer satisfaction drove it to new heights in FY24, said its Chief Executive Officer Niranjan Gupta. 

"From the highest number of product launches to the expansion of new format retail outlets and upgrade at super speed, to a digital‐first approach in premium, we set the building blocks in place for accelerated growth in the future. Our fiscal prudence and strategic actions ensured that our financial performance has been robust, resulting in highest ever annual revenue and Profits," said Gupta. 

The auto major registered record revenue and net profit for the financial year ended March 31.

“Moving forward, we expect the macroeconomic factors to aid the industry’s growth. With commodity prices remaining stable, expectations of normal monsoons, and government spending expected to increase, we see multiple tailwinds for the sector over the upcoming quarters,” the CEO added.  

Hero MotoCorp logged a net profit of Rs 3,968 crore and revenue of Rs 37,456 crore for the financial year 2023-24, growth of 36 per cent and 11 per cent over the previous year respectively. 

The auto maker's sales volumes increased to 56.21 lakh units in FY24 from 53.29 lakh units in FY23, it said.

Hero MotoCorp announced a final dividend of Rs 40 per share. Read more on Hero MotoCorp dividend 

Hero MotoCorp shares rose by Rs 146.2, or 3.3 per cent, to end at Rs 4,624.4 apiece on BSE after the earnings announcement. 

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