Hero MotoCorp has reported a net profit of Rs 6.13bn for the quarter ended December 31, 2011 versus Rs 4.29bn in the same period of the previous fiscal year.
Net sales for the reporting quarter are up 17% at Rs 59.83bn versus Rs 51.20bn in the corresponding quarter a year earlier.
The EBITDA margin for the October-December quarter of FY12 stood at 15.6%.
Total income has increased to Rs 61.08bn for the quarter under review from Rs 52.24bn in the quarter ended December 31, 2010.
Hero MotoCorp. registered its highest ever quarterly volume of 15,89,286 during the quarter ended December 31, 2011. The company clocked sales volume of more than 5 lakh units in all the three months of the reporting quarter.
Total turnover (Net sales and other income) for Q3 FY12 grew by almost 17% to 60.31bn while the Profit Before Tax (PBT) stood at Rs 7.24bn.
Dr. Brijmohan Lall, Chairman, Hero MotoCorp Ltd. said, “Last quarter has been particularly satisfying as we have set new benchmarks of excellence. This should help us realize our larger vision of building a truly global company with a strong Indian foundation. We are optimistic about the New Year and will continue to provide the best of technology and products to our customers.”
Mr. Pawan Munjal, Managing Director & Chief Executive Officer, Hero MotoCorp Ltd., said “It is heartening to see that our sales have been in excess of half a million two-wheelers in every month of the quarter, thus further strengthening our leadership. We are well in line to meet our guidance for over six million unit sales in the fiscal 2012.
“In FY’12 the industry has been facing constraints of rising fuel prices, high interest rates and a sharp rupee depreciation, leading to increased input costs impacting the margin. In these challenging times, while the domestic industry is witnessing a growth of 15 per cent, we at Hero MotoCorp are growing faster than that. We have also seen a softening in commodity prices of late, which has, however, been off-set by the rupee depreciation. Therefore, while we expect market demand for two-wheelers to remain stable, a lot will depend on the overall economic and political scenario going forward.”
Hero MotoCorp recently demonstrated its intent and vision for the future, with the unveiling of a Hybrid Concept Scooter – “Leap” here at the recently-concluded Auto Expo. The company, which is fast enhancing its research and development (R&D) capabilities, is currently developing this hybrid technology to bring environment-friendly two-wheelers into the country. The company has also been in discussion with international design houses and technology suppliers for collaboration to develop new models.
Hero MotoCorp also outlined its strategic plans for the year, unveiling a range of its new generation of two-wheelers – an all-new 110cc Passion X Pro, a 110cc masculine scooter, Maestro, and a thrilling new 125cc bike, Ignitor - to be launched in the Indian market over the next few months.
Hero Impulse – the first bike to be launched by the company under its new brand name – has opened up a new segment in the Indian two-wheeler market – the on-road-off-road category. The bike has immediately caught the imagination of customers and experts alike. Impulse won the overall “Bike of the Year” and the “Bike of the Year (up to 150cc)” award at the ET Zigwheels Car & Bike of the Year Awards 2011, while it was also adjudged the “Bike of the Year (up to 160cc)” at the NDTV Car & Bike Awards 2011.