Hero MotoCorp reports nominal Q1 PAT growth despite lower sales, beats Street estimates
ADVERTISEMENT The company had posted net profit of Rs 1122.63 crore in the corresponding period of the last financial year.
Brokerage firm Motilal Oswal had expected the company to report 7% decline in net profit for the first quarter ended on back of weak volumes. Motilal Oswal also expected Hero MotoCorp to report 60 bps margin decline to 13.8%, citing a higher EV mix and weak ICE (internal combustion engine) sales.
Revenues from operations in the period under review stood at Rs 9578.86 crore, which is a drop of 5.6% over Rs 10143.73 crore in Q1FY25. Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) last quarter stood at Rs 1382 crore. EBITDA margin remained flat at 14.4%. The company sold 13.67 lakh two-wheelers last quarter, which is a decline of 10.9% over 15.35 lakh units sold in the year-ago period.
Vivek Anand, Chief Financial Officer, Hero MotoCorp, said, 'Our profitability and margins remained resilient, supported by strong demand for our entry & deluxe motorcycles and 125cc scooter segments. We are witnessing good traction in our electric mobility business (VIDA), and global operations also remained ahead of industry, reflecting the strength of our brand in international markets.'
ADVERTISEMENT 'With favourable customer sentiment, upcoming festive season and a robust pipeline of new product launches, we are confident of sustaining and driving growth in the coming quarters', Anand added.
Shares of Hero MotoCorp closed at Rs 4,474.50 apiece, down by 1.49% on BSE. The benchmark index fell by 0.21% to 80,543.99 Wednesday. The results were announced after market hours.
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