Hero MotoCorp reports rise in income; but profit drops

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Although the net profit went down compared to last year, Hero MotoCorp reported record sales for the fourth quarter.
Last year, India’s leading two-wheeler manufacturer, Hero MotoCorp, had reported a strong net profit of 574.23 crore for the forth quarter ending March 31st 2013. In contrast, the company’s net profit for the same period this year has declined by Rs 19.8 crore, dropping to Rs 554.43.


Despite lower profits, Hero MotoCorp achieved its highest-ever quarterly sales of 15.89 lakh units of two-wheeler for the period, and the company’s total turnover (net sales & other operating income) in the quarter grew by 6 per cent to Rs 6,512.96 crore, which is over Rs. 6145.75 crore recorded in the corresponding quarter in last fiscal.

Riding on strong sales of over 62,45,960 units in this fiscal, the company registered a total turnover (net sales & other operating income) of Rs 25,275.47 crore for the full financial year of 2013-14, as compared to Rs.23,768.11 crore reported in FY’13. In fact, the performance translated into a dividend payout of Rs 65 per share.

Commenting about the sales performance Pawan Munjal, MD and CEO, Hero MotoCorp said, “These numbers are reflective of our new strategic approach focused on bringing path-breaking technologies and consolidating our leadership. FY’14 was all about setting new benchmarks, which culminated with the sales of 6.25 million during the year – our highest-ever sales for any financial year.” He added, “In FY’15, we have an action-packed year ahead of us with a slew of new products lined up for launch and further expansion of our global footprint.”

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