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Hero MotoCorp Q2FY22 Results: Two-wheeler major’s revenue, profit YoY slip amid high commodity prices
The company in its results statement said, 14.38 lakh units of motorcycles and scooters sold in Q2 FY22.
The two-wheeler major Hero MotoCorp on Friday reported mute numbers during the second quarter of the financial year 2021-22 (Q2FY22). The top and bottom line declined year-on-year growth prospect, as same as with operating profit and margins during the quarter.
Hero Moto’s profit declined by 16.7 per cent to Rs 794.4 crore in Q2FY22 as compared to Rs 953.3 crore as compared to the same quarter during a year ago period. Similarly, its revenue dipped by 9.8 per cent to Rs 8453.4 crore in Q2 FY22 as against Rs 9367 crore in the corresponding quarter of FY21.
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The company’s EBITDA too declined by 17.1 per cent YoY to 1066 crore as compared to 1286.4 crore in the July-September quarter of FY21, and margins slipped to 12.6 per cent from 13.7 per cent YoY.
The company in its results statement said, “14.38 lakh units of motorcycles and scooters sold in Q2 FY22, growing sequentially by 40.4 per cent.”
Hero Moto is committed to bringing sustainable mobility solutions to its customers and accelerating its focus on producing electric vehicles (EVs) as an integral part of its product portfolio, it also said.
The year-on-year dip in profit and revenue is due to the rising commodity prices, which have been impacting the industry margins so far, are showing some signs of softening as we move from here, Hero MotoCorp said in its results statement on Friday.
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