Two-wheeler company Hero MotoCorp’s profit in the fourth quarter (January-March) of 2024 has increased by 18% on an annual basis to Rs 1016.05 crore. In the same quarter a year ago, the company had registered a standalone net profit of Rs 858.93 crore. The company has also announced a final dividend of Rs 40 for the financial year 2024. Companies give some part of the profits to their shareholders, it is called dividend. After the results, the company’s shares increased by about 4% and crossed Rs 4600. Standalone profit measures the profitability of a single company within a firm. That is, it does not include the associate or subsidiary company of the firm. From standalone profit, we can know which business of the firm is making profit and which is not. Company’s CEO said – New product launch took us to new heights Niranjan Gupta, Chief Executive Officer of Hero MotoCorp said – ‘Our focus on product launch, network upgrade and customer satisfaction in FY24 took us to new heights. “From the highest number of product launches, expansion of new format retail outlets and digital-first approach, we have created the building blocks for rapid growth in the future.” Market share will increase on the basis of premium and 125 cc segment Niranjan Gupta said- ‘With commodity prices remaining stable, expectation of normal monsoon and expectation of increase in government spending, we are seeing many favorable conditions for the sector in the coming quarters. . We will increase market share in FY 2024 on the back of our launches in the premium and 125 cc segments. Zoom 125 cc and Zoom 160 cc scooters will be launched in the first half. Niranjan Gupta also told that in the first half of the financial year, the company is going to increase the scooter portfolio by launching Zoom 125 cc and Zoom 160 cc. In the coming year, the company will also launch EV in mid and affordable segment. Currently the company sells only Vida EV. The company sold 56.21 lakh vehicles in FY 2024. The company sold 13.92 lakh units of motorcycles and scooters in the third quarter of 2024 i.e. Q4FY24, while it sold 12.70 lakh units in Q4FY23. For the entire financial year, the number of vehicles sold stood at 56.21 lakh. In 2023 it was 53.29 lakh. The company has more than 11 crore customers. The market cap of Hero MotoCorp is Rs 89.45 crore. The company has more than 11 crore customers in the world. The company is present in more than 47 countries and provides services through more than 9000 showrooms and service centers. The company has 7 manufacturing plants with global benchmarks. Of these, 5 are in India. There are 1 plant each in Colombia and Bangladesh.
