Hero Motocorp vrooms ahead with a gross quarterly turnover of Rs.8010.66 Cr
Highest ever quarterly volumes of 17,45,389 units and Pat at all time high of Rs. 883.10 Cr
Financial Results: Q1 (April-June), FY’17
- Gross turnover (Gross sales and other operating income) Rs. 8010.66 Crore (7.74% growth over the corresponding period last year)
- Earnings Before Interest, Depreciation, Tax & Amortization (EBIDTA) for the Quarter at Rs. 1230.08 Crore reflecting 16.63% EBITDA margin (vs. 15.09% for the corresponding period last year)
- Profit Before Tax (PBT) at Rs. 1233.72 Crore and Net Profit After Tax (PAT) stand at Rs. 883.10 Crore
“The first quarter of this fiscal carried forward the growth trajectory that we set for ourselves in the previous Quarter. The sales growth is reflected in the positive financial results for the Quarter, and has given us the momentum to carry forward as we prepare for the upcoming festive season.
“With the above-average monsoon so far and the implementation of the 7th Pay Commission recommendations, we remain cautiously optimistic about the remaining months of FY’17.”
Pawan Munjal – Chairman, Managing Director and Chief Executive Officer
Hero MotoCorp Ltd. (HMCL), the world’s largest two-wheeler manufacturer, today reported its financial performance for the first quarter (April–June 2016) of FY ‘17.
During the quarter, the company registered a Gross turnover (Gross Sales & other Operating Income) of Rs 8010.66 crore and highest ever net profit after tax (PAT) of Rs 883.10 crore. HMCL had reported a total turnover of Rs 7435.47 crore and PAT of Rs 747.54 crore in the corresponding quarter in the previous fiscal (2015-16).
The EBIDTA margin improved to its highest ever 16.63%, as against 15.09% over the corresponding Quarter.
In line with the change in regulation, the Company adopted Indian Accounting Standards (IND-AS) for FY 2016-17. Accordingly figures for the previous period and year have been revised to reflect IND-AS.
Riding on the popularity of its motorcycle and scooters, Hero MotoCorp sold 17,45,389 units of two-wheelers during the quarter, as against 16,45,867 units in the Q1 2015-16. This is the highest-ever quarterly sales for Hero MotoCorp.
Providing additional momentum to the growth trajectory has been the 125cc segment where the company now commands well over 50% market share, thanks to the large volume contributions from Glamour and Super Splendor. In the first quarter of this fiscal (FY’17), Glamour grew by 32% and Super Splendor grew by 29% over the corresponding quarter in the previous fiscal.
Hero MotoCorp recently launched the all-new Splendor iSmart 110 – the first motorcycle to have been completely designed and developed by the in-house R&D team at the Hero Centre of Innovation and Technology (CIT) at Jaipur, and the initial response from customers have been positive.