Q1FY21 results: Hero Motocorp net profit falls by 95.4 per cent YoY

Chinmayee D
/ Categories: Trending, Quarterly Results
Q1FY21 results: Hero Motocorp net profit falls by 95.4 per cent YoY

Hero Motocorp, the world's largest two-wheeler manufacturer, announced its quarterly results on August 13, 2020. The company posted a consolidated net profit of Rs 57.78 crore for Q1FY21, which declined by 95.4 per cent YoY, as compared to Q1FY20 when it reported Rs 1,256.69 crore.                                                                                                                                                   

The consolidated net sales reported in Q1FY21 came in at Rs 2,969.08 crore, which declined by 63.73 per cent YoY from Rs 8,185.97 crore in Q1FY20. At EBITDA level, the company stood at Rs 117.06 crore in Q1FY21 that decreased by 90.02 per cent YoY. For Q1FY20, it posted an EBITDA of Rs 1,173.12 crore.                                                                                                                                                           

EBITDA margin as of Q1FY21 was at 3.94 per cent that declined by 10.39 per cent YoY. The net profit margin in Q1FY21 came in at 1.95 per cent, which declined by 13.40 per cent YoY. The net profit margin in Q1FY20 was at 15.35 per cent.

The company delivered a positive bottom line, regardless of only 25 per cent capacity utilization, reflecting the resilience of the portfolio and ability to optimize costs and improve productivity.       

Hero Motocorp sold a total of 5.65 lakh units of motorcycles and scooters in the first quarter of FY21. Sequential monthly sales of the company improved during the quarter as the markets gradually re-opened in the country.

With the revival of the two wheeler demand to its pre-covid level, the company expects to get stronger towards the festive season.

On Friday, at around 9:41 am, the share is trading 1.16 per cent down at Rs 2,778.55 on BSE.         

Particulars

Q1FY21

(Rs in cr)

Q1FY20

(Rs in cr)

per cent

change

Net Profit

57.78

1,256.69

-95.40

Net Revenue

2,969.08

8,185.97

-63.73

Operating Profit

 117.06

 1,173.12

-90.02

EBITDAM%

 3.94

 14.33

-10.39

PATM%

1.95

15.35

-13.40

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