Two-wheeler maker Hero MotoCorp on Tuesday reported a consolidated net profit of ₹614 crore for the fourth quarter ended March 31, down 22 per cent as compared with ₹787 crore in the corresponding period last year.
Revenue from operations for the quarter stood at ₹6,334 crore, a decline of 20 per cent as against ₹7,953 crore in January-March 2019.
During the quarter, the company sold 13.23 lakh units of two-wheeler as compared to 17.81 lakh units in the same quarter previous year.
Final dividend
Meanwhile, the Board of the company declared a final dividend of ₹25 per share which, together with the interim dividend of ₹65 per share aggregates to ₹90 per share.
“The FY’20 was a challenging year for the auto industry globally, and yet we at Hero MotoCorp had some positive takeaways from the year. Be it strengthening our presence in the premium motorcycle and scooter segments or swiftly transforming to the BS-VI emission norms, our teams ensured that we continue to strengthen the brand core in a sluggish market. We ended the year with a standout showcase of our technology and the future roadmap at Hero World 2020," Pawan Munjal, Chairman and Chief Executive Officer, Hero MotoCorp, said.
He said as the company rapidly scales-up operations post the lockdown, it will be critical that the industry receives support from all quarters.
“As businesses and governments continue to learn and adapt to this evolving situation, strategic measures are needed to rapidly boost the customer sentiment and bring vitality to the market through focused economic measures," he added.
Shares of Hero MotoCorp closed at ₹2,385.65 apiece on the BSE on Tuesday, up 0.12 per cent from the previous close.