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Covid-19 impact: Hero MotoCorp Q1 net profit falls 95% to Rs 58 crore

The company had posted a net profit of Rs 1,256.69 crore during April-June period of previous fiscal

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"The Covid-19 period has been an unprecedented challenge for the automotive industry, as indeed for several other sectors and economies around the world," Hero MotoCorp CFO Niranjan Gupta said

Press Trust of India New Delhi

2 min read Last Updated : Aug 14 2020 | 12:45 AM IST

The country's largest two-wheeler maker Hero MotoCorp on Thursday reported a 95.38 per cent decline in consolidated net profit at Rs 57.78 crore for the first quarter ended June 30, on account of lower sales due to coronavirus pandemic.

The company had posted a net profit of Rs 1,256.69 crore during April-June period of previous fiscal.

Total income during the quarter under review declined to Rs 3,119.22 crore as compared with Rs 8,410.41 crore in the year-ago period, Hero MotoCorp said in a regulatory filing.

The two-wheeler major sold a total of 565,000 units of motorcycles and scooters in the

Topics : Coronavirus Lockdown Hero MotoCorp Q1 results automobile industry two wheeler market

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