Two-wheeler major Hero MotoCorp on Tuesday posted 3.50 per cent rise in net profit at Rs 914.04 crore for the quarter ended June 30, 2017 against Rs 883.09 crore in the corresponding quarter last year.
The company reported its highest-ever quarterly sales of 18,53,647 units in Q1FY18 against 17,45,389 units in the same period a year ago.
Total income of the company increased 7.5 per cent YoY to Rs 8,744.61 crore during the quarter under review. It had reported total income of Rs 8131.03 crore in Q1FY17.
Brokerage firm Motilal Oswal was expecting 10.20 per cent YoY rise in net profit from Hero MotoCorp.
Total expenditure of the company increased 8 per cent YoY to Rs 7451.53 crore in Q1FY18 over Rs 6897.32 crore in Q1FY17.
The EBITDA margin remained steady at 16.30 per cent.
During the quarter, the company commenced commercial production at its second global manufacturing facility in Bangladesh in May 2017.
Commenting on Q1FY18 quarterly numbers, Pawan Munjal, CMD and CEO, Hero MotoCorp in a release said: “With several new products planning for launch over the next few quarters from our world-class Centre of Innovation and Technology, we remain committed to consolidating our domestic leadership and expanding our global footprint into new markets.”
via Hero MotoCorp Q1 Result: Hero MotoCorp Q1 net profit rises 3.50% YoY to Rs 914 crore
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