India's largest two-wheeler maker, Hero MotoCorp, announced its March quarter results on Tuesday.
The company reported a standalone net profit of ₹627 crore for the March quarter, down 28% compared with ₹869 crore in the last year period.
Revenue from Operations too fell 14% to ₹7,422 as against ₹8,690 crore in the fourth quarter of FY21.
For the 2021-22 fiscal, the company reported a consolidated PAT of ₹2,329 crore, down 21 per cent from ₹2,936 crore in 2020-21.
Hero MotoCorp total sales in the fourth quarter of FY22 stood at 11.9 lakh units, a drop of 24 per cent from 15.68 lakh units in the year-ago period.
The company said its board has recommended a final dividend of ₹35 per share of face value of ₹2 each (1,750 per cent). The dividend, if approved at the ensuing AGM, will be paid by September 8, 2022.
In FY23, the company has lined up multiple product launches in different segments with the an to continue building its premium portfolio as well as premiumisation of existing models, which will help deliver growth and profitability, said Niranjan Gupta, CFO of Hero MotoCorp.