Hero MotoCorp clocks more than 40 per cent net profit in Q4

Hero MotorCorp, world's largest two-wheeler manufacturer, saw a jump in its net profit in the first three months of the year. Riding on robust sales figures in the last quarter, the manufacturer reported that it has mopped up 885.28 crore.

Hero MotoCorp has decided to extend suspension of production to May 9, due to the surge in covid-19 cases. (MINT_PRINT)
Hero MotoCorp has decided to extend suspension of production to May 9, due to the surge in covid-19 cases.

The net profit is a straight 44-percent jump compared to the same period last year. Hero MotoCorp had registered a consolidated net profit of 613.81 crore in the first three months of 2020.

However, the two-wheeler manufacturer had a consolidated net profit of 2,936.05 crore in the entire financial year, which was down by almost 20 per cent compared to the previous financial year.

Also check these Vehicles

Find more Cars
Hero Electric Nyx (HT Auto photo)
₹ 0.62 - 0.83 Lakhs* *Ex-showroom price
Add to compare
Check latest offers
Hero Electric Photon (HT Auto photo)
₹72,990**Ex-showroom price
Add to compare
Hero Electric A2b (HT Auto photo)
₹35,000* *Expected Price
View Details
Hero Electric Axlhe 20 (HT Auto photo)
₹55,000* *Expected Price
View Details
Hero Electric Ae-3 (HT Auto photo)
₹ 1.50 Lakhs *Expected Price
View Details
Hero Electric Ae-75 (HT Auto photo)
₹80,000* *Expected Price
View Details

In the first three months of this year, Hero MotoCorp's consolidated revenue from operations stood at 8,689.74 crore as against 6,333.89 crore during the same period a year ago. The two-wheeler manufacturer sold 15.68 lakh units in the fourth quarter. It is a growth of 18.5 per cent compared to the same period last year when it sold 13.23 lakh units.

Also Read : Hero Motocorp's sales fall by 35.47% in April)

Pawan Munjal, Chairman and CEO at Hero MotoCorp, said, "The Financial Year (FY) 2021 was one of the most challenging periods for the entire world due to the outbreak of the coronavirus pandemic. While a late recovery towards the second half of the FY'21 saw the company gain strong volumes, the broader market continues to suffer in view of the recent escalations in Covid-19 cases."

Hero MotoCorp has recently re-appointed Pawan Munjal as its chairman and CEO. He will be in charge for a term of five years starting October this year, if Hero's shareholders approve it.

"We also grew our presence in the premium segment that would be further strengthened with our strategic partnership with Harley-Davidson," Munjal added.

Hero MotoCorp recently halted all manufacturing operations temporarily owing to the Covid-19 pandemic in the country. Munjal said, "With the fresh surge in Covid-19, Hero MotoCorp is keeping a close watch on the rapidly evolving situation, as we take steps to protect our employees and operations, while also initiating relief measures to aid the efforts initiated by our organisation, and various governments and institutions."

Hero MotoCorp had decided to keep its facilities shut for a period of four days - in a staggered manner - between April 22 and May 1. However, it has been extended till May 9 now amid massive surge of Covid-19 cases across the country.

Hero MotoCorp has announced, "The plant operations will resume on May 10. All corporate offices of the company are in Work from Home mode and a very small number of colleagues are allowed in offices on rotation basis for the continuity of essential services."

Commenting on Hero MotoCorp's projections for this year, Munjal said the two-wheeler manufacturer will continue to remain cautiously optimistic on the demand for personal mobility despite the challenging circumstances. He also said that Hero MotoCorp will also launch its first electric vehicle in this financial year.

First Published Date: 07 May 2021, 10:46 AM IST
Shopping Bag Shop Now
74% OFF
Microfiber Car Cleaning Soft Brush Ideal as Mop Duster, Washing Brush with Long Handle, Dust Cleaner Car Wash Brush with Handle, Soft Brush Scratch Free, Cleaning Dashboard Curved Design - Grey
Rs. 389 Rs. 1,499
1% OFF
GOODAIR Clear Car Windshield Enhancer | Classic |12 Tablets
Rs. 295 Rs. 299
55% OFF
Antson Portable High Power 2 in 1 Car Vacuum Cleaner | USB Rechargeable Wireless Handheld Car Vacuum Cleaner Traveling, Camping Reusable and Sustainable, Portable,Rechargeable Vacuum (2 in 1)
Rs. 899 Rs. 1,999
64% OFF
QUPET® Portable High Pressure Foot Activated Air Pump Compressor Air Pump for Car, Bike, Bicycle, Football Pump fits Universal Presta and Schrader
Rs. 474 Rs. 1,299

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
Powered by: Acko Logo
Please be noted that any information provided herein above will be received by Acko General Insurance Limited (“Acko”). By mentioning the above information, you agree to provide these details and information to Acko.
By clicking "View Offers" you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.