ETAutoRelated
NEW DELHI:The country’s largest two-wheeler maker HeroMotoCorp Thursday reported an increase of 39% in standalone net profit at Rs 864.97 crore for the fourth quarter ended March 31, 2021.
The company had posted net profit of Rs 620.71 crore in the corresponding quarter of the previous financial year.
Nomura Securities had expected the two-wheeler maker to post a 28% increase in net profit at Rs 794 crore for the fourth quarter ended March 31, 2021. Revenue and Ebitda, meanwhile, were expected to rise 33% each to Rs 8,493.8 crore and Rs 1,102.3 crore, respectively.
Revenues from operations rose 39% to Rs 8685.97 crore in the period under consideration. Total expenses last quarter went up 32.7% to Rs 7644.23 crore.
“We expect 33% YoY growth in revenues led by 18% growth in overall volumes and price increase due to BS-6 models. Margins are likely to decline 150 bps QoQ on rising commodity costs,” Nomura had said in its result expectations report.
The company had posted net profit of Rs 620.71 crore in the corresponding quarter of the previous financial year.
Nomura Securities had expected the two-wheeler maker to post a 28% increase in net profit at Rs 794 crore for the fourth quarter ended March 31, 2021. Revenue and Ebitda, meanwhile, were expected to rise 33% each to Rs 8,493.8 crore and Rs 1,102.3 crore, respectively.
Revenues from operations rose 39% to Rs 8685.97 crore in the period under consideration. Total expenses last quarter went up 32.7% to Rs 7644.23 crore.
“We expect 33% YoY growth in revenues led by 18% growth in overall volumes and price increase due to BS-6 models. Margins are likely to decline 150 bps QoQ on rising commodity costs,” Nomura had said in its result expectations report.
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