Hero MotoCorp Q1 profit jumps 38% to Rs 1,257 crore on one-off exceptional gain
Revenue from operations for the quarter fell to Rs 8,030 crore.
By ETMarkets.com | Updated:
Agencies
NEW DELHI: Hero MotoCorp on Tuesday reported a 38.28 per cent year-on-year (YoY) jump in net profit at Rs 1,257 crore, beating ET Now poll estimate of Rs 785 crore by a wide margin, thanks to a one-off exceptional gain of Rs 737.50 crore.
The world's largest two-wheeler manufacturer had reported Rs 909 crore profit in the corresponding quarter last year.
Revenue from operations for the quarter fell to Rs 8,030 crore compared with Rs 8,810 crore in the year-ago quarter. Ebitda margin for the quarter expanded to 14.4 per cent sequentially from 13.6 per cent in the March quarter.
The exceptional gains the company made were on account of a favourable order from Supreme Court, which helped the company reversed provision made for exceptional item in the current quarter.
"The necessary refund applications already filed with the department,” the company said.
The world's largest two-wheeler manufacturer had reported Rs 909 crore profit in the corresponding quarter last year.
Revenue from operations for the quarter fell to Rs 8,030 crore compared with Rs 8,810 crore in the year-ago quarter. Ebitda margin for the quarter expanded to 14.4 per cent sequentially from 13.6 per cent in the March quarter.
The exceptional gains the company made were on account of a favourable order from Supreme Court, which helped the company reversed provision made for exceptional item in the current quarter.
"The necessary refund applications already filed with the department,” the company said.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
