Hero MotoCorp’s Q3 net profit rises 37 percent

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Mumbai, Feb 11 (IANS) Automobile major Hero MotoCorp on Thursday posted an increase of 36.50 percent in its stand-alone net profit which stood at Rs.795.81 crore for the quarter ended December 31, 2015.

The company had earned a net profit of Rs.582.98 crore for the quarter ended December 31, 2014.

According to the company, its total income increased by 6.66 percent to Rs.7,294.78 crore from Rs.6,839.25 crore for the quarter ended December 31, 2014.

Further, the company’s earnings before interest depreciation tax and amortisation (EBIDTA) for the quarter under review stood at Rs.1,140 crore reflecting a 15.63 percent EBITDA margin.

The company’s total sales in the third quarter rose by 2.53 percent to 16,90,354 units from an off take of 16,48,548 units during the corresponding quarter of last fiscal.

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“The domestic two-wheeler market continues to be sluggish; we expect sentiments to remain subdued for the next couple of quarters. Demand in rural markets has been severely impacted due to two consecutive sub-normal monsoon,” said Pawan Munjal, chairman, managing director and chief executive, Hero MotoCorp.

“We may see a positive turn-around towards the second half of the next fiscal, if we have a good monsoon and sentiments change in the rural market.”

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