Hero MotoCorp reports 14% drop in net profit in Q4FY17

Two-wheeler major Hero MotoCorp on Wednesday announced its financial result for the quarter ended on March 31. The company's profit after tax dropped by 13.8% to Rs 717.75 crore in Q4FY17 as against Rs 833.29 crore during corresponding quarter last year. 

For the whole financial year, the consolidated net profit was Rs 3377.12 crore as against Rs 3160.19 crore in the previous fiscal.

The total income in Q4FY17 stood at Rs 7,606.3 crore as against Rs 8,227.93 crore in Q4FY16. The EBITDA for the quarter was 12.79% as compared to 14.66% during the same period last year. 

The total two-wheeler sales for Q4FY17 was 16,21,805 units and total sales for the whole financial year was 66,64,240 units. 

Moreover, the company in its statement said that with the input costs showing upward trend, they have raised the prices ranging from Rs 500 to Rs 2200 on some of the models with effect from May 1. 

The company also announced dividend of 4850% including interim dividend of 2750% for FY17.

On Wednesday, the shares of the company closed at Rs 3322.40 per piece, up by 0.99% or Rs 32.60 on BSE.