Hero MotoCorp financial statement – Q1 FY ’17

Hero MotoCorp Ltd. (HMCL), the world’s largest two-wheeler manufacturer, today reported its financial performance for the first quarter (April–June 2016) of FY ‘17.

During the quarter, the company registered a Gross turnover (Gross Sales & other Operating Income) of Rs 8010.66 crore and highest ever net profit after tax (PAT) of Rs 883.10 crore. HMCL had reported a total turnover of Rs 7435.47 crore and PAT of Rs 747.54 crore in the corresponding quarter in the previous fiscal (2015-16).

The EBIDTA margin improved to its highest ever 16.63%, as against 15.09% over the corresponding Quarter.

In line with the change in regulation, the Company adopted Indian Accounting Standards (IND-AS) for FY 2016-17. Accordingly figures for the previous period and year have been revised to reflect IND-AS.

Riding on the popularity of its motorcycle and scooters, Hero MotoCorp sold 17,45,389 units of two-wheelers during the quarter, as against 16,45,867 units in the Q1 2015-16. This is the highest-ever quarterly sales for Hero MotoCorp.

Providing additional momentum to the growth trajectory has been the 125cc segment where the company now commands well over 50% market share, thanks to the large volume contributions from Glamour and Super Splendor.In the first quarter of this fiscal (FY’17), Glamour grew by 32% and Super Splendor grew by 29% over the corresponding quarter in the previous fiscal.

Hero MotoCorp recently launched the all-new Splendor iSmart 110 – the first motorcycle to have been completely designed and developed by the in-house R&D team at the Hero Centre of Innovation and Technology (CIT) at Jaipur, and the initial response from customers have been positive.

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Parichay Malvankar

Parichay Malvankar

Founder, owner and editor-in-chief of www.shifting-gears.com; a born gearhead, nothing apart from a set of wheels gets his pulse racing.