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Hot Pursuit News

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(08 May 2024, 16:06)

Hero Moto climbs as PAT rises 18% YoY in Q4 FY24

Hero MotoCorp gained 3.26% to Rs 4,624.35 after the two-wheeler major's standalone net profit increased 18.29% to Rs 1,016.05 crore on 14.6% rise in revenue from operations to Rs 9,519.30 crore in Q4 FY24 over Q4 FY23.

Hero MotoCorp sold 13.92 lakh units of motorcycles and scooters in fourth quarter of FY24, up 9.61% from 13.92 lakh units sold in Q4 FY23.

Profit before tax grew 17.7% year on year (YoY) to Rs 1,349.58 crore in the quarter ended 31 March 2023.

Earnings before interest, tax, depreciation & amortization (EBITDA) improved to Rs 1,359 crore Rs in March 2024 quarter, recording a growth of 25% YoY.

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

In financial year ended March 2024, the company's net profit jumped 36.33% to Rs 3,967.96 crore on 10.8% increase in revenue to Rs 37,455.72 crore. The firm sold 56.21 lakh units of motorcycles an...

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