Hero MotoCorp Reports Decline In Profits In Q3FY13
DSIJ Intelligence / 17 Jan 2013
While Hero has seen flat sales in the Dec 2012 quarter, however its volumes as well as profits have dropped.
Hero MotoCorp has reported a 2.5% growth in its topline to Rs 6187 crore. However, its net profit has declined by 20% to Rs 487 crore. The EBITDA margins also declined by 139 basis points over a rise in input costs. This was mainly because of a change in the product mix as well as an increase in brand building expenditure.
During the quarter, the company also saw a 1% decline in the volumes to 15,73,135 vehicles as compared to the corresponding quarter last fiscal.
Hero has started the construction of its global parts center (GPC) and also its fourth manufacturing plant in Neemrana, Rajasthan. It is investing a total Rs 550 crore towards these and they will be operational by the end of H2FY14.
More to follow... Watch this space.
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