Hero Motocorp’s standalone net profit for the fourth quarter that ended on March 31, 2023, stood at Rs 859 crore, up 37 percent YoY, as compared to Rs 627 crore in the same period last year.
This figure was significantly higher than the estimate of Rs 747 crore, as shown in CNBC-TV18’s poll of analysts.
Revenue from operations rose by 12 percent to Rs 8,306.78 crore during the quarter under review, as compared to Rs 7,422 crore during the fourth quarter.
The company’s strong Q4 performance can be attributed to the robust demand for its two-wheelers, as well as its focus on cost optimization and supply chain management.
Hero Motocorp has been working on expanding its product portfolio and distribution network in recent months. The company recently launched a new premium motorcycle model, the Hero Xpulse 300, and has also entered into a strategic partnership with Gogoro, a Taiwanese electric scooter maker, to bring its battery-swapping technology to India.
The company’s management has expressed confidence in its ability to sustain growth in the future, citing the favorable macroeconomic environment, strong demand for two-wheelers in India, and its continued focus on innovation and customer satisfaction.