Hero MotoCorp today reported a marginal decline in standalone profit
after tax to Rs 909.17 crore for the first quarter ended June 30,
2018 impacted by higher commodity prices and tax expenses.
The company, which had posted profit after tax (PAT) of Rs 914.04 crore in the same quarter last fiscal, said it is making a further investment of over Rs 130 crore in electric two-wheeler maker Ather Energy to increase its stake.
Revenue from operations during the quarter under review stood at Rs 8,809.82 crore. It was at Rs 8,621.83 crore in the same period last fiscal.
The two figures are not comparable as revenue from operations are net of GST since implementation on July 1, 2017.
During the quarter the company sold 21,06,629 units of two-wheeler as against 18,53,647 units in the year-ago period.
"The impact on the PAT in the quarter has been on account of the tax benefits coming to an end in Q4 FY18 at company's manufacturing facility at Haridwar," the company said in a statement
Total tax expenses in first quarter stood at Rs 433.57 crore as compared to Rs 379.04 crore in the year-ago period.
Moreover, EBITDA margin was impacted by commodity costs, although offset to a large extent by pricing and continuing cost management, it added.
Cost of raw materials consumed stood at Rs 6,131.69 crore as against Rs 5,475.71 crore in the same period previous fiscal, the company said.
The company, which had posted profit after tax (PAT) of Rs 914.04 crore in the same quarter last fiscal, said it is making a further investment of over Rs 130 crore in electric two-wheeler maker Ather Energy to increase its stake.
Revenue from operations during the quarter under review stood at Rs 8,809.82 crore. It was at Rs 8,621.83 crore in the same period last fiscal.
The two figures are not comparable as revenue from operations are net of GST since implementation on July 1, 2017.
During the quarter the company sold 21,06,629 units of two-wheeler as against 18,53,647 units in the year-ago period.
"The impact on the PAT in the quarter has been on account of the tax benefits coming to an end in Q4 FY18 at company's manufacturing facility at Haridwar," the company said in a statement
Total tax expenses in first quarter stood at Rs 433.57 crore as compared to Rs 379.04 crore in the year-ago period.
Moreover, EBITDA margin was impacted by commodity costs, although offset to a large extent by pricing and continuing cost management, it added.
Cost of raw materials consumed stood at Rs 6,131.69 crore as against Rs 5,475.71 crore in the same period previous fiscal, the company said.
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