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Hero MotoCorp announced Q3FY24 & 9MFY24 results:
Q3FY24 Highlights:
- Volume – 14.60 lakh units of motorcycles and scooters sold in Q3FY24
- Revenue from operations – Rs 9,724 crore, (vs Rs 8,031 crore)
- Earnings Before Interest, Tax, Depreciation, & Amortization for the Quarter stood at Rs 1,362 crore, growth of 47%
- Net Profit After Tax (PAT) - Rs 1,073 crore, growth of 51%
9MFY24 Highlights:
- Volume – 42.29 lakh units of motorcycles and scooters sold in nine monthsFY24
- Revenue from operations – Rs 27,936 crore, (vs Rs 25,499 crore)
- Earnings Before Interest, Tax, Depreciation, & Amortization for the nine months stood at Rs 3,897 crore, growth of 34%
- Net Profit After Tax (PAT) - Rs 2,952 crore, growth of 44%
Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp, said, “The government's emphasis on infrastructure development, while ensuring fiscal prudence in its recent interim budget, has created a conducive business and economic environment, which would facilitate higher growth and job creation.
Our recent launches in premium segment have met with early success, and we are ramping up capacity of our upper premium models. At the Hero World event in the month of January, we unveiled 2 more premium motorcycles? the Xtreme 125 R, and Mavrick 440. We will keep fortifying our premium portfolio backed by strong brand building and best in class ‘phygital’ customer experience. Moving forward, our Margin shape will allow us to fuel our growth even more.
We have now expanded our EV presence to 100 cities in the country and we are rapidly building the charging infrastructure in collaboration with Ather. In coming fiscal, we will be launching new products in mid and affordable segment as well. We believe we are well placed to accelerate growth and increase our market shares as we move forward.”
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