Hero Motocorp Reports Revenue Of Rs 8,031 Crore In Q3 FY’23

Hero MotoCorp today reported its financial performance for the third quarter (October-December 2022) of FY 23. The company declared interim dividend at 3,250 per cent which is Rs 65 per equity share. Revenues for the quarter stood at Rs 8,031 Crore and the EBITDA margin was 11.5 per cent.

The company reported a profit before tax (PBT) of Rs 940 crore in Q3 FY 23 (vs Rs 911 Crore in Q3 FY 22) and the profit after tax (PAT) of Rs 711 crore (vs Rs 686 crore in Q3 FY 22). The nine months revenue grew by 17 per cent, while PAT registered growth of 11 per cent

The consolidated revenue and PAT for the quarter were Rs 8,118 crore and Rs 721 crore and for nine months of the year Rs 25,724 crore and Rs 1,989 crore respectively.

Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said "We have started recovering our market shares and expect this journey to continue backed by exciting launches lined up over next few quarters, especially in premium segment. This, coupled with our renewed focus on savings programme should also help in improving our margin profile going forward, We are excited about our EV programme, with Vida being established as a premium and aspirational brand. We are planning to roll this out across multiple cities in FY 24. Our R&D teams are working on accelerated portfolio expansion as well, in the EV space. The recently presented Union budget, with its focus on increasing capex investment on one hand and disposable income on the other, augurs well for the growth of economy as well as auto sector. We expect two-wheeler industry to clock double-digit revenue growth in FY 24."

During the quarter, Vida, Powered by Hero, the emerging mobility brand of Hero MotoCorp, commenced customer deliveries of its electric vehicle - the Vida V1 scooter. The highly customisable, Built-to-Last Vida V1, with convenient removable batteries and three-way charging options, is available in two variants – Vida V1 Plus at Rs 135,705 and Vida V1 Pro at Rs 146,880, price includes all connected features, portable charger and charging service.