Hero MotoCorp Q3 Result: Revenue up 2%, PAT rises 3.6%

8 Feb 2023 , 09:03 AM

For the quarter that ended in December, Hero MotoCorp recorded an increase in net profit after tax of 3.6% year over year (YoY) to Rs711.06 crore. Operating revenue increased just 2% YoY to Rs8,031 crore.

The two-wheeler manufacturer sold 12.40 lakh units during the quarter, which was down 4% from the same time last year and up more than 13% from the previous quarter.

Operating profit for the company decreased by over 4% YoY to Rs924 crore, and the margin shrank by 67 basis points to 11.51%.

An unfavourable product mix, increased input prices, and lower sales volumes probably had an impact on operational performance.

For the current fiscal year, the board has recommended an interim dividend of Rs65 per share.

Hero MotoCorp is positioning ‘Vida’ as a luxury and aspirational brand in the field of electric vehicles.

In comparison to Rs225 crore a year before, the company’s tax expenditure in the most recent quarter was Rs229.4 crore.

For feedback and suggestions, write to us at [e-mail]