Hero MotoCorp reported a 12% increase in revenue from operations in Q4FY23 to INR 8,307 crore, against INR 7422 crore during the same period last year. Its EBIDTA margin for the quarter was at 13%, and net profit for the quarter was at INR 859 crore, reflecting 37% growth over INR 627 crore reported in the same quarter last year.
The consolidated revenue stood at INR 8,434 crore, a growth of 13% over the previous year, and PAT at INR 811 crore, a growth of 31% over the previous year.
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Niranjan Gupta, Chief Executive Officer,Hero MotoCorp, said, “We are accelerating our EV rollout, with plans to be in 100 cities within this calendar year. Apart from exclusive Vida outlets in certain cities, we will be using our existing distribution system across cities to ensure wider reach.”
Further, the company has lined up a slew of product launches in different segments, aiming to strengthen its premium portfolio and premiumisation of existing models.