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Hero MotoCorp's profit jumps 71% to Rs 814 cr

Hero MotoCorp's profit jumps 71% to Rs 814 cr

Two-wheeler maker Hero MotoCorp has posted a 71 per cent growth in net profit for the March quarter at Rs 814 crore against Rs 477 crore in the year-ago period. Turnover for the quarter increased to Rs 7,512 crore from Rs 6,794, an increase of around 11 per cent. Total two-wheeler sales for the quarter was 17,21,240 units.

Profit for FY16 was Rs 3,132 crore against Rs 2,386 crore in the year-ago period, an increase of 31 per cent. Total Income increased from Rs 27,585 crore to Rs 28,599 crore.

Pawan Munjal, chairman, managing director and chief executive, said, "The completion of FY16 marked five years of sustained leadership in our bold new solo journey that we embarked upon in 2011. In addition to consolidating our market leadership in terms of volumes, we have also worked on making Hero MotoCorp a more profitable company."