| Hero profit rises 10.2% to Rs6b in Q1 |
NEW DELHI Two-wheeler maker Hero MotoCorp on Thursday reported a 10.2 per cent rise in net profit for the first quarter of the current fiscal which stood at Rs6.15 billion from Rs5.58 billion recorded in the corresponding quarter of the 2011-12 financial year.
The company reported its best-ever turnover which included proceeds from net sales and other operating income at Rs62.47 billion, a rise of 9.95 per cent from Rs56.82 billion recorded in the like period of last fiscal.
The firm’s EBIDTA (earnings before interest, tax, depreciation and amortisation) margin stood at 15 per cent.
Sales during the quarter under review stood at 1,642,292 units. The sales according to the company were supported by two consecutive months of highest-ever sales of April and May when it sold 551,557 and 556,644 units respectively.
However, the company gave a pessimistic outlook for sales which it said will be determined by the monsoon. “Going forward, a lot will depend on a good monsoon and the consequent harvest to get the buyers to exercise their decision to pu-rchase and not postpone it. We’ve so far seen a patchy monsoon, and this might reflect on retail sales in rural and upcountry markets in the coming months,” said Pawan Munjal, managing director and chief executive.
Indo-Asian News Service
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