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Hero MotoCorp Ltd., one of India’s largest two-wheeler manufacturers, announced its financial results for the fourth quarter (Q4) and full year ended March 31, 2024. The company reported revenue from operations of ₹9,519 crore in Q4 FY2024, marking a 14% increase compared to ₹8,307 crore in the same quarter last year.
Net profit for the quarter stood at ₹1,016 crore, reflecting a growth of 18% from ₹859 crore in Q4 FY2023. The EBITDA margin improved to 14.7%, up from 13.4% during the corresponding period last year.
During the quarter, Hero MotoCorp sold 13.92 lakh units, compared to 12.70 lakh units in Q4 FY2023. For the full fiscal year, the company sold 56.21 lakh units, a 4% increase over 54.28 lakh units sold in FY2023.
The company’s board recommended a final dividend of ₹40 per share, subject to shareholder approval.
In a statement, the management attributed the improved performance to healthy domestic demand, higher average selling prices, favorable product mix, and operational efficiencies. The company highlighted increased premium segment presence and strong growth in exports as contributing factors.
Hero MotoCorp also noted progress in its electric vehicle business and premium product portfolio, including ramping up production for its VIDA electric scooter and expanding market coverage through new dealership touchpoints.
This article first appeared on Autocar
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