Hero MotoCorp's net profit in March quarter up y-o-y by 18%

9 May 2024 , 02:00 PM

Hero MotoCorp’s shares surged over 4% following a 16.36% increase in consolidated profit after tax (PAT) in the March 2024 quarter. The stock reached ₹4,806 per share on the National Stock Exchange, hitting a high of ₹4,922 intraday.

On the BSE, it rose 3.9% to ₹4,806 per share. The company’s market capitalization stood at ₹96,088.39 crore, with a free float m-cap of ₹62,591.30 crore.

In Q4 FY24, Hero MotoCorp reported a consolidated PAT of ₹943.46 crore compared to ₹810.8 crore in the same period a year ago, with revenue from operations at ₹9,616.68 crore versus ₹8,434.28 crore YoY.

The company sold 13.92 lakh motorcycles and scooters in Q4 FY24, up from 12.70 lakh units in Q4 FY23. Total expenses rose to ₹8,427.36 crore in Q4, compared to ₹7,508.94 crore YoY.

For FY24, consolidated PAT was ₹3,742.16 crore compared to ₹2,799.9 crore in the previous fiscal, with revenue from operations at ₹37,788.62 crore versus ₹34,158.38 crore in FY23.

Niranjan Gupta, CEO of Hero MotoCorp, highlighted the successful year driven by product launches, network upgrades, and customer satisfaction. The company’s board recommended a final dividend of ₹40 per equity share, subject to shareholders’ approval.

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