By Hero Motorcorp, the world’s largest two-wheeler manufacturer, today reported its highest-ever revenue for the quarter. The company’s Revenue from Operations for the third quarter (October-December 2020) of the FY’ stood at Rs. 9,776 Crore (vs Rs. 6,997 Cr. in Q3 FY’20). Consolidated Revenue and PAT for the third quarter (October-December 2020) of the FY’ stood at Rs. 9,827 Crore and Rs. 1,029 Crore respectively for the quarter.
This has been possible, thanks to the robust sales volume during the quarter and a combination of key strategic initiatives such as cost reduction efforts to partially offset the impact of the commodity costs and intense operational efficiencies. The company declared an interim dividend of Rs. 65 per share, amounting to 3250 %age.
In addition, the company has announced a special interim dividend of Rs 100 Crore @ Rs. 5 per equity share, to mark the achievement of historic milestone of achieving 100 Million cumulative productions of two-wheelers, taking the aggregate interim dividend to Rs. 70 per share. On January 21, 2021, Hero MotoCorp surpassed the monumental milestone of 100 Million (10 Crores) units in cumulative production. The 100 millionth motorcycle, the Xtreme 160R, was rolled-out of the Company’s manufacturing facility in Haridwar, in the northern Indian hill state of Uttarakhand.
To mark the occasion of the 100 Million milestone, Hero MotoCorp introduced six celebration edition models. These include four motorcycles – Splendor+, Xtreme 160R, Passion Pro and Glamour and two scooters – Destini 125 & Maestro Edge 110. These will go on sale from February 2021. At the beginning of the new year, Hero MotoCorp entered into a distribution agreement with Grupo Salinas, founded by Mexican entrepreneur Ricardo Salinas. Following the agreement,the two Companies have come together to form one of the largest distribution globally to sell competitive, high-quality products in the large Mexican market.
