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Hero MotoCorp reports 4.5% YoY drop in Q3 profit at Rs 769 crore, announces dividend of Rs 55 per share

Hero MotoCorp's revenue increased 7.53 per cent YoY to Rs 7,864.82 crore in Q3FY19.

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Last Updated: Jan 31, 2019, 06.22 PM IST|Original: Jan 31, 2019, 05.56 PM IST
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PTI
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Hero MotoCorp's revenue increased 7.53 per cent YoY to Rs 7,864.82 crore in Q3FY19.
Hero MotoCorp on Thursday reported 4.51 per cent year-on-year fall in profit at Rs 769.10 crore for the quarter ended December 31.

Analysts in an ET Now poll were expecting a profit of Rs 750 crore.

The two-wheeler major had posted a net profit of Rs 805.43 crore in the corresponding quarter last year.

Revenue of the company, however, increased 7.53 per cent YoY to Rs 7864.82 crore in Q3FY19 over Rs 7314.21 crore in Q3FY18.

The company sold 17,98,905 units during the quarter under review against 17,09,107 units in the same quarter last year.

Earnings before interest, tax, depreciation and amortization (EBIDTA) stood at Rs 1,105 crore reflecting 14 per cent EBIDTA margin ( against 15.8 per cent for Q3 FY18).

“There have been temporary setbacks in the third quarter on account of multiple factors, leading to higher than normal inventory levels at dealerships. However, the fourth quarter has historically been positive and we look forward to an improved market situation in the coming months. Hopefully, the upcoming Budget will have enough impetus for the agriculture and social sectors, Hero MotoCorp.

The company also announced an interim dividend of Rs 55 per share.

EBIDTA margin for the quarter was at 14.0%.

“Destini 125-the newly launched scooter from Hero MotoCorp has received an overwhelming response from customers, while the new premium motorcycle Xtreme 200R has also generated a positive uptick in volumes. Going forward, Hero MotoCorp has lined-up a slew of exciting product launches in the coming months in its focus segments-premium motorcycles and scooters, which will generate a lot of excitement in the market,” Hero MotoCorp said in a release.
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