Country’s largest two-wheeler maker Hero MotoCorp on Thursday posted 70.85 per cent rise in standalone net profit at Rs 814.16 crore for the fourth quarter ended March 31, riding on the back of its best ever quarterly sales. The company had posted a net profit of Rs 476.53 crore during the same period of the previous fiscal.
“The improved profit margins were the combined result of of the highest ever quarterly sales of 17,21,240 units and several margin improvement initiatives taken during the period,” Hero MotoCorp said in a statement.
Net sales of the company rose by 10.3 per cent to Rs 7,385.23 crore during the fourth quarter as compared to Rs 6,695.19 crore during the same period of the previous fiscal. The company sold 17,21,240 two-wheelers during the fourth quarter, up 9.25 per cent from 15,75,501 units a year ago. For the fiscal ended March 31, the company posted a net profit of Rs 3,132.37 crore, up 32 per cent, against Rs 2,385.