Hero Motocorp Q3 earnings: Hero MotoCorp Q3 results: Consolidated PAT up 14% at Rs 1,029 crore

NEW DELHI: The nation’s largest two-wheeler maker Hero MotoCorp has posted 13.7 per cent improve in its consolidated revenue after tax at Rs 1,029.17 crore for the third quarter ended December 31, 2020. The corporate had reported a internet revenue of Rs 905.13 crore within the October-December interval of the earlier fiscal.

The 2-wheeler main’s income from operations rose to Rs 9,827.05 crore throughout the interval below assessment, as in comparison with Rs 7,074.86 crore within the third quarter of 2019-20, Hero MotoCorp mentioned in a regulatory submitting.

On a standalone foundation the corporate reported 23.17 per cent improve in its PAT at Rs 1.084.47 crore, as towards Rs 880.41 crore in the identical interval of the earlier fiscal.

Revenues from operations rose to Rs 9,775.77 crore, as towards Rs 6,996.73 crore within the October-December interval of the earlier fiscal.

“Our efficiency within the third-quarter underlines the corporate’s operational energy and talent to carry out properly regardless of a difficult and risky setting,” Hero MotoCorp Chief Monetary Officer (CFO) Niranjan Gupta mentioned.

The corporate has been in a position to drive worthwhile development by means of enchancment in market shares, acceleration of financial savings initiatives, continued management on overheads, and money circulate administration, he added.

“Going ahead, we count on enter prices to stay below strain because of the rising costs of commodities and gasoline. The worth improve on our vary of merchandise that we undertook from January 1 will partially offset these value pressures. We’ll proceed to give attention to driving value financial savings, and take considered value will increase if & when essential,” Gupta mentioned.

The corporate’s board declared an interim dividend of Rs 65 per share (3,250 per cent).

As well as, the corporate has additionally introduced a particular interim dividend of Rs 100 crore, i.e. Rs 5 per fairness share, to mark the historic milestone of attaining 100 million cumulative manufacturing of two wheelers, taking the combination interim dividend to Rs 70 per share.

On January 21, 2021, Hero MotoCorp surpassed the 100-million items cumulative manufacturing mark.

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