Hero MotoCorp Starts Recovering Market Share

Mobility Outlook Bureau
08 Feb 2023
11:56 AM
1 Min Read

The company reported a profit before tax of INR 940 crore in Q3FY23 (vs 911 crore in Q3FY22) and profit after tax of INR 711 crore (vs INR 686 crore in Q3 FY22)

Vida V1 electric scooter
Vida V1 electric scooter

Hero MotoCorp has registered a revenue of INR 8,031 crore in Q3FY23 with an EBITDA margin of 11.5%. The company reported a profit before tax (PBT) of INR 940 crore in the quarter (INR 911 crore in Q3FY22) and a profit after tax (PAT) of INR 711 crore (INR 686 crore). Revenue during the first nine months of FY23 grew by 17%, while PAT registered a growth of 11%.

The consolidated revenue and PAT for the quarter were INR 8,118 crore and INR 721 crore, and for nine months of the year, INR 25,724 crore and INR 1,989 crore, respectively. The company has declared an interim dividend of INR 65 per equity share.

During the quarter, VIDA, the emerging mobility brand of the company, commenced customer deliveries of its electric vehicle - the VIDA V1 scooter.

Niranjan Gupta, Chief Financial Officer, Hero MotoCorp, said, “We have started recovering our market shares and expect this journey to continue backed by exciting launches lined up over the next few quarters, especially in the premium segment. This, coupled with our renewed focus on savings programme, should also help in improving our margin profile going forward. We expect the two-wheeler industry to clock double-digit revenue growth in FY24.“

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