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Hero MotoCorp Q3 net up 11.2% at Rs 583cr, misses estimates

The country’s largest two-wheeler maker, Hero MotoCorp, notched up profits of Rs 583 crore on revenues of Rs 6,839 crore in the quarter ending December 2014, it said in a statement. In comparison, the company had clocked profit of Rs 524 crore on revenue of Rs 6,876 crore in the same quarter in 2013.

The News International Team

The country’s largest two-wheeler maker, Hero MotoCorp , notched up profits of Rs 583 crore on revenues of Rs 6,839 crore in the quarter ending December 2014, it said in a statement. In comparison, the company had clocked profit of Rs 524 crore on revenue of Rs 6,876 crore in the same quarter in 2013.

The firm’s profits were below estimates. A CNBC-TV18 poll of analysts had forecast the company to post net income of Rs 689 crore while revenues were seen at Rs 6,785 crore.

At the operating level, profit before tax stood at Rs 829 crore while EBITDA margin for the quarter stood at 12.02 percent.

Hero sold a total of 16.48 lakh two-wheelers during the quarter.

“In terms of sales, we also posted a new benchmark by selling over a million units in just 37 days during the festive season,” vice chairman and CMD Pawan Munjal said in a press release.

“As part of our global expansion, Brand Hero made its debut in Colombia during the quarter, and immediately set a new benchmark in the country by becoming the first two-wheeler company to offer a four-year warranty on all products. By roping in iconic celebrity Tiger Woods as our global corporate partner, we have also intensified our brand building initiatives in global markets,” he added.

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