HERO MOTOCORP Announces Quarterly Results (1QFY21); Net Profit Down 95.1%

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HERO MOTOCORP Announces Quarterly Results (1QFY21); Net Profit Down 95.1%
Thu, 10 Sep

HERO MOTOCORP has announced its results for the quarter ended June 2020. Here is a detailed performance review of the same:

HERO MOTOCORP Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-19*
3
Mar-20*
3
Jun-20*
QoQ ChangeYoY Change
Net SalesRs m80,30362,38429,715-52.4%-63.0%
Other incomeRs m2,1881,6951,485-12.4%-32.2%
TurnoverRs m82,49164,07931,200-51.3%-62.2%
ExpensesRs m68,72355,78528,635-48.7%-58.3%
Gross profitRs m18,9556,5991,081-83.6%-94.3%
DepreciationRs m2,3611,7471,708-2.3%-27.7%
InterestRs m44416354.2%43.2%
Profit before taxRs m18,7386,506795-87.8%-95.8%
TaxRs m6,165299182-39.2%-97.1%
Profit after taxRs m12,5736,207613-90.1%-95.1%
Gross profit margin%23.610.63.6
Effective tax rate%32.94.622.9
Net profit margin%15.29.72.0
* 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 63.0% on a year-on-year (YoY) basis. The expenses were down by 58.3% YoY during the same period.
  • The company's operating profit declined by 94.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.6% in 1QFY21 as against 23.6% in 1QFY20.
  • Depreciation charges declined by 27.7% and finance costs increased by 43.2% YoY, respectively.
  • Other income declined by 32.2% YoY during the quarter.
  • Net profit for the quarter declined by 95.1% YoY. Net profit margins during the quarter declined from 15.2% in 1QFY20 to 2.0% in 1QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 52.4% on a quarter-on-quarter (QoQ) basis. The expenses were down by 48.7% QoQ during the same period.
  • The company's operating profit declined by 83.6% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 3.6% in 1QFY21 as against 10.6% in 4QFY20.
  • Net profit for the quarter declined by 90.1% QoQ, while net profit margins declined from 9.7% in 4QFY20 to 2.0% in 1QFY21.

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

Know More: Is India's Economic Recovery Sustainable?

HERO MOTOCORP Share Price Performance

Over the last one year,HERO MOTOCORP share price has moved up from Rs 2,690.1 to Rs 2,912.8, registering a Gain of Rs 222.7 or around 8.3%.

Meanwhile, the S&P BSE AUTO Index is trading at Rs 17,995.6 (up 0.7%). Over the last one year it has moved up from 16,100.3 to 17,995.6, a gain of 1,895 points (up 11.8%).

Overall, the S&P BSE SENSEX is up 3.5% over the year.

Current Valuations

At the current price of Rs 2,912.8, the price to earnings (P/E) ratio of HERO MOTOCORP stands at 23.9 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 4.0 times.

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