Tuesday, August 5, 2014

#Hero MotoCorp Q1 net profit marginally up at Rs 563 cr

Two-wheeler major Hero MotoCorp reported net profit of Rs 562.7 crore for the quarter ended June 2014, up 2.5 per cent, from Rs 549 crore, in the corresponding quarter last fiscal.
Total Sales increased to Rs 7,036.8 crore, up 14.2 per cent, from Rs 6,160 crore in year-ago period. EBIDTA margin for the quarter stood at 13.46 per cent. Company has announced interim dividend of Rs. 30 per share i.e. 1500 percent entailing total outgo of Rs. 700.87 crores inclusive of dividend distribution tax.

Highlights of Financial Results for Q1, FY’15
  • Total sales for the quarter stands at 17,15,254 units.
  • Total turnover (Net sales and other operating income) Rs.7036.84 Crore.
  • Net Profit After Tax (PAT) stands at Rs. 562.76 crore.
  • Profit Before Tax (PBT) stands at Rs765.45 crore.
  • EBIDTA margin for the quarter at  13.46 per cent.
  • Announces Interim Dividend of  Rs. 30 per  share.
Dr. Brijmohan Lall, Chairman, Hero MotoCorp, said “The Board is delighted to elevate Pawan to the position of Vice Chairman. This is an acknowledgement of his inspiring leadership and progressive vision which has helped Hero MotoCorp strengthen its No. 1 position in a highly competitive and volatile market. Undoubtedly, there are challenging times ahead and yet, under the leadership of Pawan, the future looks promising as well as exciting. It is, therefore, the right time to strengthen the hands of Pawan as he leads Hero MotoCorp to a new era of innovation and technological excellence.”

Mr. Pawan Munjal said “I am grateful to the members of the Board and all stake holders of the company in reposing their faith and confidence in me with a larger responsibility. I take this as an acknowledgement of all the good work that we have done as a team in building on our leadership over the past several years. As we embrace new technologies and expand our global footprint across continents, the journey ahead is going to be far more exciting.