Hero MotoCorp profit up 44 percent to Rs 885 crore in fourth quarter

New Delhi, May 6 (PTI) Hero MotoCorp, the largest two-wheeler maker, posted a net profit of Rs 885.28 crore in the last quarter of the financial year 2020-21 on the back of strong sales.

The company reported on Thursday that it had a net profit of Rs 613.81 crore in the fourth quarter of 2019-20, thus increasing its net profit by 44 percent.

Hero MotoCorp said in a regulatory notice that the total revenue earned from operations in the fourth quarter ended March 31, 2021 stood at Rs 8.689.74 crore as compared to Rs 6,333.89 crore in the corresponding period of the previous financial year.

The company said that in the last quarter it sold a total of 15.68 two-wheelers while in the last quarter of the financial year 2019-20 it had sold 13.23 lakh vehicles. In this way, its sales grew by 18.5 percent.

The total net profit of the company stood at Rs 2,936.05 crore in the financial year ended 31 March 2021, while it was Rs 3,659.41 crore in the financial year 2019-20 i.e. a 20 percent decrease in the net profit of the company.

The total revenue earned from operations in the financial year 2020-21 stood at Rs 30,959.19 crore as compared to Rs 29,255.32 crore in the previous financial year.