By Our Staff Reporter: Quarterly Result
Sales rose 85.34% to Rs 5502.80 crore in the quarter ended June 2021 as against Rs 2969.08 crore during the previous
quarter ended June 2020.
PBIDT for the Q1 FY22 stood at Rs 529.56 crore compared with Rs 268.60 crore posted in Q1 FY21.
The two-wheeler maker's profit before tax stood at Rs 343.25 crore in Q1 FY22, sharply higher than Rs 77.87 crore
posted in Q1 FY21.
Net profit of Hero MotoCorp rose 333.01% to Rs 256.08 crore in the quarter ended June 2021 as against Rs 59.14
crore during the previou
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s quarter ended June 2020.
On the volume front, Hero MotoCorp sold 10.25 lakh units of motorcycles and scooters in Q1 FY22, registering a
growth of 81% over the corresponding quarter in the previous fiscal. In April 2021, the company proactively paused its
operations temporarily at all of its manufacturing facilities across the country, including its Global Parts Center (GPC)
in Neemrana and its R&D facility in Jaipur due to the second wave of COVID-19 pandemic. The company resumed
production at its manufacturing plants in India in a staggered manner from 17 May 2021.
Niranjan Gupta, CFO of Hero MotoCorp said, 'The first quarter of this fiscal has been adversely impacted by Covid-19.
Despite the challenges posed by the pandemic, Hero MotoCorp achieved significant growth in both earnings and
profitability compared to the corresponding quarter of the previous fiscal. The company improved its market share in
the quarter by more than 200 basis points over the full year of FY 21. The commodity costs continued to rise, thereby
impacting the industry margins. We have taken judicious and measured pricing decisions, reducing the impact on the
customers by offsetting part of the increase through the accelerated Leap-2 saving program. The company remains
optimistic about demand over the coming months with the start of the festive season and also a healthy monsoon
and encouraging farm activity. With last-mile retail opening up further, we expect numbers to be positive as we move
forward. Hero MotoCorp aims to build further on its market leadership as we continue to delight customers with
superior products and technology.
Source : Eureka
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