Hero has reported a healthy growth of 23 percent in its profits along with increment in sales during the third quarter of this financial year…
World’s largest manufacturer of two wheelers by volumes – Hero Motocorp has released its results for the third quarter of FY’21. And the maker has reported highest ever revenue generated for any quarter. The company has beaten the estimates for second quarter in a row, and has also announced an interim dividend.
Hero Q3 FY21 Results
Hero witnessed a 23% YoY growth in its profits (PAT) at Rs 1,084 crore, against Rs 880 crores in Q3 FY’20. In terms of revenue, the company reported 39.7% growth to Rs 9,778, against Rs 6,997 crores during the same period in FY’20.
Its EBIDTA increased 36% to Rs 1,416 crores, but EBIDTA margin decreased slightly at 14.5%, against 14.9% earlier. All this has been achieved on the back of healthy sales during the said quarter. The company’s two-wheeler sales recorded a 20% growth at 18.45 Lakh units. Domestically, it witnessed 19% growth at 17.9 lakh units.
On the occasion, Hero Motocorp announced an interim dividend of Rs 70 per share, which also includes Rs. 5 special dividend, as the company touched the 100-million units milestone.