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Hero MotoCorp announces Q3 report – Profit rose to 23%

Hero MotoCorp has recently released its Q3 report on Thursday, February 4 and the company has reported high profits in its quarterly earnings.

The company has reported total 23.17 percent increase in the December quarter. Company’s net profit is currently standing at Rs 1,084.47 crore. It has witnessed a very strong revenue growth in the last fiscal year.

Also, a year ago the company reported a profit of Rs 880.41 crore during the same period.

Company’s board of directors have also declared an interim dividend which is Rs 65 per equity share for the FY2020-2021.

Currently the interim dividend is standing at around 3,250 percent with a face value of Rs 2 per equity share.

Moreover, the board of directors also announced a special interim dividend which is approximately around Rs 100 crores.

This special dividend amount is cumulating around 250% which is Rs 5 per equity share.

Hero MotoCorp has achieved a 100 million growing production of two-wheelers in the market. It has achieved an aggregate interim dividend around 3,500 percent.

Within this, the company’s revenue also increased to Rs 9,775.77 crore. It has increased by 39.7 percent against its previous revenue standing at Rs 6,996.73 crore.

Company’s EBITDA was also higher by 36.1 percent which is nearly around Rs 1,413.6 crore and also, the margin was around 14.5 percent.

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