The two-wheeler major's standalone net profit declined 27.51% to Rs 627.05 crore on 14.55% fall in net sales to Rs 7,421.73 crore in Q4 March 2022 over Q4 March 2021.
On a standalone basis, profit before tax (PBT) fell 28.95% year-on-year to Rs 802.21 in Q4 March 2022. Earnings Before Interest, Tax, Depreciation & Amortization (EBITDA) for the quarter stood at Rs 828 crore. EBITDA margin for the fourth quarter was at 11.2%.The company sold 11.9 lakh units of motorcycles and scooters sold in Q4 FY22.
Hero MotoCorp's standalone net profit declined 16.57% to Rs 2,473.02 crore on 5.05% fall in net sales to Rs 29,245.47 crore in the year ended March 2022 over the year ended March 2021. EBITDA stood at Rs 3,369 crore in FY22.
The company sold 49.4 lakh units of motorcycles and scooters sold in FY'22.
In FY'22, Hero MotoCorp for the first time surpassed the landmark 300,000 units in volume sales in a single financial year in its global markets outside of India, registering a growth of more than 57% over the corresponding period in FY'21. Over the past few years, the company has significantly enhanced its global operations both in terms of volumes and presence. There is now a strong focus on further expanding its presence in markets such as Colombia, Peru, Argentina and Mexico in Latin America; Kenya, Uganda and Tanzania in East Africa; Nigeria in West Africa; and Bangladesh and Nepal in Asia.
The company declared a final dividend of Rs 35 per share.
More From This Section
Niranjan Gupta, chief financial officer (CFO), Hero MotoCorp, said, "With the economy picking up, we expect the demand for motorcycles and scooters to see a positive turnaround in the coming months. While concerns related to high input costs continue to remain a challenge, we will keep monitoring the situation and take judicious measures as appropriate. The forecast of a normal monsoon is likely to aid the crops, which in turn is expected to improve cash flows in rural sector. All these factors are likely to help in a steady recovery in consumer sentiments and market demand. In FY'23, we have lined up multiple product launches in different segments with an aim to continue building our premium portfolio as well as premiumization of existing models, which will help us deliver growth and profitability."
Hero MotoCorp is the world's largest manufacturer of motorcycles and scooters.
Shares of Hero MotoCorp fell 1.04% to Rs 2460.60 on the BSE.
Powered by Capital Market - Live News