Two-wheeler major Hero MotoCorp on February 4 reported 23.17 percent jump in its December quarter net profit at Rs 1,084.47 crore on the back of strong revenue growth. The company had reported a profit of Rs 880.41 crore in the same quarter last fiscal.
Revenue of the company increased by 39.7% at Rs 9,775.77 crore against Rs 6.996.73 crore. Earnings before interest, tax, depreciation and amortisation (EBITDA) was up 36.1% at RS 1,413.6 crore against Rs 1,038.9 crore, while margin was at 14.5 percent versus 14.8 percent.
The board of directors declared an interim dividend at 3,250% i.e. Rs 65 per equity share (face value of Rs 2 per equity share) for the financial year 2020-21.
Further, the board declared a special interim dividend of Rs 100 crores at 250% i.e. Rs 5 per equity share, to mark the achievement of historic milestone of achieving 100 million cumulative production of two-wheelers, taking the aggregate interim dividend declared to 3,500% i.e. Rs 70 per equity share.
It has fixed February 16, 2021 as record date for determining entitlement of members for the purpose of payment of interim dividend. The payment of interim dividend/ dispatch of dividend warrants will be completed by March 6, 2021.
On February4, the share closed at Rs 3,440.65, up Rs 56.25, or 1.66 percent on the BSE.