News Correspondent, abptakmaa, Kolkata, 8th Feb 2020 : Hero MotoCorp, the world’s largest manufacturer of motorcycles and scooters today reported it’s financial performance for the third quarter (October-December 2019) of the financial year 2020.
The company’s Revenue from Operations for the quarter stood at Rs. 6,997 Crore as compared to Rs. 7,865 Crore in Q3 FY’19. Consolidated Revenue and PAT stood at Rs. 7075 Crore and 905 Crore respectively for the quarter. EBIDTA margin for the quarter stood at 14.8%. Hero MotoCorp today also announced an interim dividend of 3250% amounting to Rs. 65 per share.
Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, “The two-wheeler industry continues to face challenges amidst an overall economic slowdown. Early indicators, such as a positive Rabi Crop, augur well for the rural economy, which in turn is likely to help the industry. The slew of measures announced by the Finance Minister as part of the Union Budget earlier this week would also go a long way in reviving the economy. However, it will take some time for the two-wheeler industry to see a sustained recovery. We expect to see positive turnaround in the second half of the new fiscal (FY’21).”
During the third quarter of FY’20, Hero MotoCorp launched India’s first BS-VI motorcycle in the entry segment – the HF-Deluxe. The company is geared-up to transition its entire product range to the new emission norms well before the regulatory deadline and plans to stop all BS IV production by mid-February. Publicity Carpediem Communique.