Hero MotoCorp Q4 Results 2018: The New Delhi-based Brij Mohanlal Munjal-led world's largest two-wheeler maker by volumes on Wednesday recommended a final dividend of Rs 20 per equity shares of face value of Rs 2 each while releasing the financial results for the quarter and the year ended 31 March 2018.
Hero MotoCorp Q4 Results 2018: The New Delhi-based Brij Mohanlal Munjal-led world’s largest two-wheeler maker by volumes on Wednesday recommended a final dividend of Rs 20 per equity shares of face value of Rs 2 each while releasing the financial results for the quarter and the year ended 31 March 2018. “The board at its meeting held on May 02, 2018 considered and recommended a final dividend @ 2000% i.e. Rs 40 per equity share of Rs 2 each for the financial year 2017- 18. The dates of the book closure for the entitlement of such dividend and the annual general meeting shall be decided and informed in due course of time. This dividend together with the interim dividend @ 2750% i.e. Rs 55 per equity share of Rs 2 each already paid to the members would aggregate to @ 4750%,” Hero MotoCorp said in an exchange filing.
Following the earnings release, shares of Hero MotoCorp dropped as much as 2.45% to a day’s low of Rs 3,642.1 before closing down 1.91% at Rs 3,662.3 on BSE on Wednesday.
Hero MotoCorp said that the standalone net profit for the January-March period grew by 35.17% to Rs 965.37 crore as against to Rs 714.19 crore net profit in the comparable quarter last year. Hero MotoCorp‘s total income saw an increase of 14.67% to Rs 8,730.54 crore for the fourth quarter ended 31 March 2018. Hero MotoCorp reported a net income of Rs 7,613.91 crore in the corresponding period a year earlier. Hero MotoCorp said that the company has sold 20,01,595 vehicles in the fourth quarter of the financial year 2017-2018 while the company posted its highest-ever sales of 7,587,154 units in the reporting fiscal year.
“The fiscal year 2018 proved to be yet another year of record performances and landmark achievements – be it domestic sales, global expansion or in the field of research & development, manufacturing excellence and technological innovations at Hero MotoCorp and its alliances. We are clearly focused on sustaining our leadership in the market and consistently keep increasing wealth for our investors. The Company posted record sales numbers throughout the year, the first ever global 2-wheeler company to record well over 7.5 million unit sales in the period and registered highest-ever monthly sales in India (730,473 unit sales in March 2018),” said Pawan Munjal, Chairman, Managing Director & Chief Executive Officer, Hero MotoCorp Ltd.
“Hero MotoCorp, a company strongly-driven by customer preference and technological innovation, recognised the growing future environmental demands ahead of its times, and thus have made strategic investments in the electric vehicles segment. Development is underway on the strategic priorities of engaging with the external ecosystem, including start-ups in a meaningful way. As part of this focus, Hero MotoCorp has made an investment of Rs 201 crore in Ather Energy to acquire about 30% equity. Ather will soon start retailing its smart electric scooter S340,” Pawan Munjal added.