Hero MotoCorp on Wednesday posted 0.53 per cent fall in net profit at Rs 909.17 crore for the quarter ended June. The company had posted a profit of Rs 914.04 crore in the corresponding quarter last year.
ETNow Poll had predicted a net profit of Rs 1,007 crore in Q1.
Revenue from operations increased to Rs 8,809.82 crore in Q1FY19 over Rs 8,621.83 crore in Q1FY18. ETNow poll had predicted a revenue of Rs 9,088 crore for the quarter under review.
EBITDA margin was impacted by commodity costs, although offset to a large extent by pricing and continuing cost management. The impact on profit in the quarter was on account of the tax benefits coming to an end in Q4FY18 at the company's manufacturing facility at Haridwar.
The company posted record quarterly sales of 21,06,629 units in Q1FY19, registering a double-digit growth of 13.60 per cent.
Margins stood at 15.60 per cent for the quarter ended June 2018 against ETNow poll of 15.90 per cent. The company EBITDA margins of 16.30 per cent in the same quarter last year.
"The Indian economy continues to grow in the face of global headwinds from several fronts. However, the industry has been adversely impacted by the volatility in commodity prices driven by global trends. Despite these challenges, the industry will maintain the growth momentum during the rest of the fiscal, with consumption expected to remain high on the back of a normal monsoon and the upcoming festive season. At Hero MotoCorp, we are geared up to ride the positive momentum with new premium motorcycles and scooters, lined up for launch in the coming months," said, Pawan Munjal, Chairman, Managing Director & CEO, Hero MotoCorp.
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ET Markets
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