Hero MotoCorp proposed a final dividend of Rs 25 per share and special dividend of Rs 10 per share.
Two-wheeler maker Hero MotoCorp on May 6 reported healthy growth in March 2021 quarter earnings as standalone profit shot up 39.4 percent year-on-year (YoY) to Rs 865 crore, driven by strong revenue and operating performance.
Revenue from operations grew by 39.2 percent YoY to Rs 8,686 crore with 18.5 percent volume growth for the March 2021 quarter.
The company sold a total of 15.68 lakh units of two-wheelers during the Q4FY21, registering a growth of 18.5 percent over the corresponding quarter in the previous year. The company had sold 13.23 lakh units in Q4FY20.
“The company has been able to drive profitable growth through the combination of key strategic initiatives such as acceleration of Leap-II savings program to offset the higher commodity prices and input costs,” said the world’s largest manufacturer of scooters and motorcycles in its BSE filing.
Numbers were ahead of analysts’ estimates. Profit was estimated at Rs 810 crore on revenue of Rs 8,425 crore for the quarter, according to the average estimates of analysts polled by CNBC-TV18.
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At the operating level, EBITDA (earnings before interest, tax, depreciation and amortisation) jumped 83.5 percent YoY to Rs 1,211.2 crore and margin expanded 330 bps to 13.9 percent YoY, thereby beating CNBC-TV18 poll estimates which had pegged it at Rs 1,080 crore and 12.8 percent, respectively for the quarter.
The company proposed a final dividend of Rs 25 per share and special dividend of Rs 10 per share. “This dividend together withthe interim dividend, aggregates to Rs 90 per equity share and special dividend of Rs 15 per equity share, taking the total dividend for the year 2020-21 to Rs 105 per share,” said Hero.
