Hero MotoCorp has reported its best-ever sales as well as financial performance for the second quarter (July–September 2016) and half year (April-September 2016) of FY’17.
Riding on its highest-ever sales of 18,23,498 units in a quarter, the Company registered a Gross turnover (Gross Sales & other Operating Income) of INR 8,448.74 crore and highest-ever net profit after tax (PAT) of INR 1,004.22 Crore during the period. The Gross total turnover in the corresponding quarter previous fiscal (July-September 2015 of FY’16) stood at INR 7,346.47 Crore and PAT of INR 786.12 Crore. Hero MotoCorp had sold 15,74,861 units in the corresponding quarter of FY’16.
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The EBIDTA margin improved to its highest-ever 16.20 %, as against 14.91% over the corresponding Quarter aided by softer commodities and cost control measures (LEAP)
Speaking about the sales performance, Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp, said that the second quarter of this fiscal has been a defining phase in the journey of the brand. The highest-ever volume sales during the quarter is a reiteration of the overwhelming customer preference of the Company’s products, and a testimony to its market leadership.
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Munjal further added that the two-wheeler maker continues to have an unwavering focus on exceeding customer expectations, as demonstrated by the launch of Splendor iSmart 110 – the first motorcycle designed and developed by our R&D team based at the Centre of Innovation & Technology (CIT) in Jaipur. The launch of this bike during the quarter is a strong statement on the immense progress Hero MotoCorp has made in rapidly scaling up its in-house R&D capabilities.
| Financial Results: Q2 (Jul-Sep), FY’17 | Financial Results: H1 (Apr-Sep), FY’17 |
· Highest-ever quarterly sales: 18,23,498 units [robust double digit growth of 15.8% over corresponding period last year (Jul’15-Sep’15: 15,74,861 units)]
· Gross turnover (Gross sales and other operating income) Rs.8,448.74 Crore (15.0% growth over the corresponding period last year)· Earnings Before Interest, Depreciation, Tax & Amortization (EBIDTA) for the Quarter stood at Rs. 1368.87 Crore reflecting 16.20%. EBITDA margin (vs. 14.91% for the corresponding period last year); EBIDTA margins based on Net Revenue (Gross turnover less excise duty thereon) stood at 17.56% (vs. 16.09% for the corresponding period last year) · Profit Before Tax (PBT) at Rs. 1400.43 Crore and Net Profit After Tax (PAT) stands at Rs.1004.22 Crore · Total comprehensive income stood at Rs.994.72 Crore (vs. Rs. 785.19 Crore for the corresponding period last year) |
· Highest-ever half-yearly sales: 35,68,887 units [strong double digit growth of 10.8% over corresponding period last year (Apr’15-Sep’15: 32,20,728 units)]
• Gross turnover (Gross sales and other operating income) Rs.16,459.40 Crore (11.3% growth over the corresponding period last year)· Earnings Before Interest, Depreciation, Tax & Amortization (EBIDTA) for the Quarter stood at Rs.2598.95 Crore reflecting 15.79% EBITDA margin (vs. 14.46% for the corresponding period last year); EBIDTA margins based on Net Revenue (Gross turnover less excise duty thereon) stood at 17.10% (vs. 15.59% for the corresponding period last year) · Profit Before Tax (PBT) at Rs. 2634.15 Crore and Net Profit After Tax (PAT) stand at Rs.1887.32 Crore · Total comprehensive income stood at Rs.1876.80 Crore (vs. Rs.1531.82 Crore for the corresponding period last year) |