Hero MotoCorp, the world's largest two-wheeler manufacturer, has released the financial results for the fourth quarter (Q4) of Financial Year 2021-22. Between January and March 2022, the company's total profit after tax (PAT) stood at Rs. 627 crore. Compared to the Rs. 865 crore profit registered in the quarter that ended on March 31 last year, the company saw a drop of nearly 28 per cent year-on-year. Hero's net revenue from operations for Q4 FY2022 stood at Rs. 7,422 Crore, which is a decline of nearly 15 per cent compared to the Rs. 8,686 crore revenue generated between January and March, in 2021.
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Niranjan Gupta, Chief Financial Officer (CFO), Hero MotoCorp, said, "With the economy picking up, we expect the demand for motorcycles and scooters to see a positive turnaround in the coming months. While concerns related to high input costs continue to remain a challenge, we will keep monitoring the situation and take judicious measures as appropriate. The forecast of a normal monsoon is likely to aid the crops, which in turn is expected to improve cash flows in rural sector. All these factors are likely to help in a steady recovery in consumer sentiments and market demand."
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Hero's profit for the entire FY2022 stood at Rs. 2,473 crore, a decline of nearly 17 per cent compared to the Rs. 2,943 crore profit achieved in FY2021
As for the entire financial year 2021-22, Hero's profit after tax stood at Rs. 2,473 crore, a decline of nearly 17 per cent compared to the Rs. 2,943 crore profit achieved in FY2021. Between April 2021 and March 2022, the company also generated total revenue of Rs. 29,245 crore, a 5 per cent decline compared to Rs. 30,801 crore revenue generated during the same period in FY2021.
As for volumes, between April and March 2022, Hero MotoCorp sold 11.90 lakh two-wheelers, witnessing a decline of 24 per cent YoY compared to the 15.68 lakh units sold during the same period in 2021. The company's total volumes for the entire fiscal year of 2022 stood at 49.44 lakh units, which is a drop of 15 per cent compared to the 58 lakh two-wheelers sold between April 2020 and March 2021. In FY2022, Hero MotoCorp's global sales (excluding India) for the first time surpassed the 3,00,000 units mark, registering a growth of more than 57 per cent compared to the corresponding period in FY2021.
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During the fourth quarter, Hero MotoCorp also unveiled Vida, the new identity of its upcoming electric mobility brand. In Q4, Hero also announced a $100 Million (Rs. 765+ crore) Global Sustainability Fund, aimed at establishing global partnerships. And as for product launches, Hero MotoCorp introduced the 2022 Destini 125 XTec edition during the quarter that ended on March 31, 2022.
