Hero MotoCorp reports profit of Rs 487.89 crore

Hero MotoCorp has declared a profit of Rs 487.89 crore after tax for the third quarter of the financial year 2012-2013.

The company sold 15,73,135 units in the third quarter  -  11 lakh units of these were sold during the festive season in October-November helping them grow seven per cent over the corresponding period in 2011. 

Hero Motocorp registered turnover (Net Sales & Other Operating Income) of Rs 6187.62 crore and profit before tax of Rs 582.62 crore during the Q3 of FY 2012-2013. The company has also declared an EBIDTA (Earnings before interest depreciation taxes and amortisation) margin of 12.59 per cent.

Pawan Munjal, managing director & CEO, Hero MotoCorp, said, “The last two quarters have been challenging for the Indian auto industry on account of the delayed monsoons, rising fuel prices and subdued sentiments.  However, we have had good growth this festive season. Not only have we sold over 1.1 million two-wheelers in the months of October and November, our dispatches were consistently over five-lakh every month of this quarter. This trend may be an early sign of recovery and we hope the domestic two-wheeler industry will revert to higher growth rates in near future. Whenever that happens, we will be geared up to meet the upsurge in demand.”

Hero Motor Corp recently started the construction of its fourth manufacturing plant located in Neemrana, Rajasthan for an investment of Rs 500 crore. The new plant will house the company’s new Global parts center (GPC) and will be operational by 2014.