Hero MotoCorp Ltd, the country’s largest two-wheeler manufacturer, on Wednesday reported a standalone net profit of ₹554.43 crore for the fourth quarter ended March 31, down 3.44 per cent from ₹574.23 crore reported a year ago.
However, the company’s total income rose 6 per cent to ₹6,636 crore during the period, from ₹6,250 crore in the corresponding quarter of the previous year, the company said.
Hero also saw its highest-ever quarterly sales at 15,89,462 units of two-wheelers during January-March, compared with 15,27,351 units a year earlier.
Taking the strength of the operations and the strong financial position into account, the company announced a dividend payout of ₹65 per share. Earnings per share stood at ₹27.76 during the March quarter versus ₹28.75 in the year-ago period. “The financial year 2014 was all about setting new benchmarks, which culminated with the sales of 6.25 million units during the year – our highest-ever sales for any financial year,” said Pawan Munjal, Managing Director and Chief Executive Officer.
“We have an action-packed year ahead with a slew of new products lined up for launch and further expansion of our global footprint,” he added. With the new Government expected to speed up the reforms process and improve the investment climate, the company looks forward to the revival of the economy and the industry this year, he added.
On Wednesday, the scrip of Hero MotoCorp closed at ₹2,350.30 on BSE, up 2.08 per cent or ₹47.90 from the previous close, while the benchmark Sensex closed flat at 24,556.09.