Dividend Announcement: Hero MotoCorp, the largest company in the two-wheeler sector, has made huge profits in the third quarter of the current financial year. The company’s net profit has increased by 51 percent on annual basis to Rs 1073.4 crore. The company released its quarterly results on Friday. Due to huge profits, the company has also announced a dividend of Rs 100 per share to the investors. Experts had also predicted good profits for the company.
Company’s revenue also increased
Hero Moto Corp said in its regulatory filing that its revenue in the October-December quarter was Rs 9723.7 crore. The company’s revenue in the same quarter of the last financial year was Rs 8031 crore. The EBITDA margin of the company has also increased by 250 basis points on annual basis to 14 percent.
Record breaking sales in festive season
The company’s sales during the festive season have been the highest so far. In those 32 days the company has sold approximately 14 lakh two-wheelers. The company said that the board has announced a dividend of Rs 100. Out of this, Rs 75 will be interim dividend and Rs 25 will be special dividend. Before the announcement of quarterly results on Friday, shares of Hero Moto Corp closed at Rs 4,908.5, up 2.10 per cent on BSE.
Hero will launch many upper premium models
Two Wheeler Company CEO Niranjan Gupta said that the government has created a business and economic environment in the country by emphasizing on infrastructure in the interim budget. This will lead to more growth and employment will also increase. The models we have recently launched have received good response from the market. Hero Moto Corp will soon launch many upper premium models. During the Hero World event in January, the company launched the Extreme 125R and Maverick 440. The company has full hope that their performance in the last quarter of the financial year can be even better.
Expanding charging infrastructure with Ather
Niranjan Gupta said that it is strengthening the charging infrastructure in the entire country in collaboration with Ather. The company has reached 100 cities in the electric vehicle (EV) segment. It will be expanded further in the coming time.
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