New Delhi: Hero MotoCorp Ltd, the country’s largest two-wheeler maker, on Wednesday reported a 34.78% increase in net profit at Rs967.40 crore for the fourth quarter ended 31 March, riding on the back of robust sales.
The company had posted net profit of Rs717.75 crore in the year-ago period, Hero MotoCorp said in a BSE filing.
Net sales for the quarter under review stood at Rs8,564.04 crore as against Rs6,922.80 crore in the same period previous fiscal, up 23.7%. Volume sales were at 2,001,595 units as against 1,621,805 units in the year-ago period, up 23.4%.
For the fiscal 2017-18, Hero MotoCorp said its net profit rose 9.4% to Rs3,697.36 crore as compared to Rs3,377.12 crore in 2016-17. Net sales for FY18 were at Rs32,230.49 crore as compared to Rs28,500.46 crore in FY17, up 13.1%. Volume sales for the year were at 75,87,154 units as compared to 66,64,240 units in the previous fiscal, up 13.84%.
Hero MotoCorp shares closed 2.24% down at Rs3,650 on the BSE.