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Business News/ Companies / Company Results/  Hero Motocorp Q4 results: Net profit up 18% to 1,016 crore; 40 per share dividend declared, stock jumps 2.5%
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Hero Motocorp Q4 results: Net profit up 18% to ₹1,016 crore; ₹40 per share dividend declared, stock jumps 2.5%

The profit after tax (PAT) was broadly in line with market estimates. The company further reported 14 per cent jump in its standalone revenue from operations to ₹9,519 crore from ₹8,306.78 crore reported in the corresponding period of the last financial year.

Hero Motocorp Q4 resultsPremium
Hero Motocorp Q4 results

Hero Motocorp share price jumped over 2.49 per cent on Wednesday, May 8 to 4,588 after the company reported 18 per cent year-on-year (YoY) increase in its standalone net profit at 1,016 crore versus 858.93 crore reported by the company in the year-ago period.

The profit after tax (PAT) was broadly in line with market estimates. The company further reported 14 per cent jump in its standalone revenue from operations to 9,519 crore from 8,306.78 crore reported in the corresponding period of the last financial year. This also marked its all-time highest revenue and profit after tax (PAT) for any fiscal year.

Also read: Canara Bank Q4 Results: PSB announces dividend of 16 ashare, profit jumps 18%

The two-wheeler major also declared a final dividend at 2,000% i.e. 40/- per share (face value of 2 per equity share) for FY24. 

In Q4FY24, the company recorded sales of 13.92 lakh units of motorcycles and scooters, compared to 12.70 lakh units in Q4FY23. For the entire financial year, the total units sold reached 56.21 lakh, up from 53.29 lakh units in FY23.

In terms of financial performance, the earnings before interest, tax, depreciation & amortization (EBITDA) for Q4FY24 amounted to 1,359 crore, marking a 25 per cent year-on-year growth. The profit before tax (PBT) for the quarter stood at 1,350 crore.

“The financial year 2024 has been a remarkable period for Hero MotoCorp. During the year, our focus on product launches, network upgrade and customer satisfaction drove us to new heights. 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 future. Our fiscal prudence and strategic actions ensured that our financial performance has been robust, resulting in highest ever annual revenue and Profits," said Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp.

Also read: Bharat Forge Q4 results: Stock surges 16% after net profit jumps 78%, declares dividend of 6.50

Gupta further added, “Moving forward, we expect the macro‐economic 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. We will be driving market share gains on the back of our launches in premium and 125 cc segment done in FY 24. Further, we are going to boost scooter portfolio by launching Xoom 125 cc and Xoom 160 cc in first half of the fiscal. Coming year willsee ustaking big strides in EV, through product launches in mid and affordable segment. Overall, we see a very positive outlook for upcoming years."

Hero Motocorp stock has gained nealry 44.55 per cent in the last six months and 77 per cent in the last one year on NSE.

 

 

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Published: 08 May 2024, 03:01 PM IST
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