HERO MOTOCORP Announces Quarterly Results (1QFY20); Net Profit Up 38.3%

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HERO MOTOCORP Announces Quarterly Results (1QFY20); Net Profit Up 38.3%
Thu, 1 Aug

HERO MOTOCORP has announced its results for the quarter ended June 2019. Here is a detailed performance review of the same:

HERO MOTOCORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-18*
3
Mar-19*
3
Jun-19*
QoQ ChangeYoY Change
Net SalesRs m88,09878,85080,3031.8%-8.8%
Other incomeRs m1,1571,6422,18833.3%89.1%
TurnoverRs m89,25680,49282,4912.5%-7.6%
ExpensesRs m74,32568,15668,7230.8%-7.5%
Gross profitRs m13,77310,69318,95577.3%37.6%
DepreciationRs m1,4821,5022,36157.2%59.3%
InterestRs m21224499.5%107.1%
Profit before taxRs m13,42710,81118,73873.3%39.6%
TaxRs m4,3363,5086,16575.7%42.2%
Profit after taxRs m9,0927,30312,57372.2%38.3%
Gross profit margin%15.613.623.6
Effective tax rate%32.332.432.9
Net profit margin%10.29.115.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter fell 8.8% on a year-on-year (YoY) basis. The expenses were down by 7.5% YoY during the same period.
  • The company's operating profit increased by 37.6% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.6% in 1QFY20 as against 15.6% in 1QFY19.
  • Depreciation charges increased by 59.3% and finance costs increased by 107.1% YoY, respectively.
  • Other income increased by 89.1% YoY during the quarter.
  • Net profit for the quarter increased by 38.3% YoY. Net profit margins during the quarter increased from 10.2% in 1QFY19 to 15.2% in 1QFY20.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 1.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 0.8% QoQ during the same period.
  • The company's operating profit increased by 77.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 23.6% in 1QFY20 as against 13.6% in 4QFY19.
  • Net profit for the quarter increased by 72.2% QoQ, while net profit margins increased from 9.1% in 4QFY19 to 15.2% in 1QFY20.

To see how HERO MOTOCORP has performed over the last eight quarters,please visit here.

HERO MOTOCORP Share Price Performance

Over the last one year,HERO MOTOCORP share price has moved down from Rs 3,272.0 to Rs 2,334.4, registering a Loss of Rs 937.6 or around 28.7%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 15,364.4 (down 0.7%). Over the last one year it has moved down from 24,307.5 to 15,364.4, a gain of 8,943 points (down 36.8%).

Overall, the S&P BSE SENSEX is down 1.0% over the year.

Current Valuations

At the current price of Rs 2,334.4, the price to earnings (P/E) ratio of HERO MOTOCORP stands at 12.5 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 3.6 times.

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