Hero MotoCorp Q4 Profit Rises 18% to Rs 1,016 cr, Declares Dividend of Rs 40/share

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by Sandip Das on 8 May 2024,  3 min read

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Hero MotoCorp on May 8, 2024 announced 18 percent increase in net profit, reaching Rs 1,016 crore for the quarter concluding on March 31, 2024. This surge was propelled by robust volume expansion, a refreshed product lineup, reduced commodity expenses, and elevated average selling prices (ASPs). The company’s revenue also climbed by 15 percent to Rs 9,519 crore in Q4FY24 from Rs 8,307 crore in Q4FY23.

EBIDTA margin for the quarter was at 14.3 percent, reflecting an improvement of 120 bps on a YoY basis, driven by product mix, lower commodity costs, higher savings, and judicious price increases.

The firm declared a dividend of Rs 40 per share of Rs 2 face value. “The company declared a final dividend of Rs 40 per share. This dividend together with an interim and special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lall Munjal, of Rs 100 per equity share, takes the aggregate total dividend for the year 2023-2024 to Rs 140 per equity share i.e. 7000 percent,” Hero Moto said in a BSE filing.

Niranjan Gupta, Chief Executive Officer (CEO), of Hero MotoCorp, said: “During the year, our focus on product launches, network upgrades and customer satisfaction drove us to new heights. From the highest number of product launches to the expansion of new format retail outlets and upgrades at super speed to a digital‐first approach in premium, we set the building blocks in place for accelerated growth in the future.

Also read: Voltas Q4 Results: Consolidated Net Profit Dips 19% to Rs 116.44 Crore

“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 the premium and 125 cc segments done in FY24. Further, we are going to boost scooter portfolio by launching Xoom 125 cc and Xoom 160 cc in first half of the fiscal. The coming year will see us taking big strides in EV, through product launches in the mid and affordable segments. Overall, we see a very positive outlook for upcoming years,” he added.

At 2:59 PM, Hero MotoCorp was trading at Rs 4,631.80 per share on NSE, up Rs 155.05 or 3.46 percent.

Source: BSE

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