New Delhi (Anish Yande): Shares of HeroMoto Corp rose by 5 percent in early trade on Friday's trading session. The shares of the motorcycle company rose following the announcement of its results for the quarter ended March 2021.
The shares of HeroMoto Corp had risen to an intraday high of Rs 2,995 per share on Friday after opening at Rs 2,948.95 per share. HeroMoto Corp shares fell to an intraday low of Rs 2,820 per share.
Hero MotoCorp March quarter results:
Hero MotoCorp had reported a consolidated net profit of Rs 613.81 crore in the March quarter of the previous fiscal. The consolidated net profit of the motorcycle company rose to Rs 885.28 crore in the quarter ended March 2021, at an increase of 44 per cent on a year-on-year basis.
Consolidated revenue from operations of Hero MotoCorp rose to Rs 8,689.74 crore in the March quarter of 2021 as compared to Rs 6,333.89 crore in the corresponding quarter of the previous fiscal. The revenue from operations rose by 39 per cent on a year-on-year basis.
The motorcycle company had sold 13.23 lakh units in the March quarter of FY20. Hero MotoCorp's sales of two-wheelers grew to 15.68 lakh units in the March quarter of FY21. Sales of the company grew by 18.5 percent.
EBITDA of Hero MotoCorp rises by 83 percent:
The earnings before interest, tax, depreciation, and amortization rose to Rs 1,211.2 crore, increasing 83.5 percent YoY and EBITDA margin expanded 330 bps to 13.9 percent YoY.
In the fiscal year ended March 31, 2021, consolidated net profit fell to Rs 2,936.05 crore as compared to Rs 3,659.41 crore recorded in FY20. The consolidated net profit fell by 20 percent.
The consolidated revenue from operations rose to Rs 30,959.19 crore in FY21 as compared to Rs 29,255.32 crore in FY20.
The Board of directors of Hero MotoCorp has announced a final dividend of Rs 25 per share along with a special dividend of Rs 10 per share. The total dividend for 2020-21 is at Rs 105 per share along with the special dividend.
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