Hero MotoCorp, the country’s largest two-wheeler company, reported a consolidated net profit of Rs 811  crore in Q4FY23, reflecting a growth of 31% over a similar period, the previous year. The company’s consolidated revenue stood at Rs 8,434 crore, a growth of 13% in Q4FY23, as against Q4FY22.

The company also declared a final dividend of Rs 35 per share taking the total dividend for the year to Rs 100.

The company's top leadership expects 2W industry revenue growth to be in the double digit in the coming year.

“Economic activity in India continues to build momentum with key indicators moving in a positive direction,” said Niranjan Gupta, CEO, Hero MotoCorp.

“The company has been able to drive margin expansion and profitable growth this quarter through a judicious combination of pricing, savings, and mix. In line with our policy, we have declared overall dividend for the year at Rs 100/ share, which continues to be in top quartile in terms of payout ratio,” he further stated.

The company is accelerating its EV rollout, with a plan to be in 100 cities within the calendar year. “Apart from exclusive Vida outlets in certain cities, we will be using our existing distribution system across cities to ensure wider reach. The recent price revision now makes Vida accessible to more customers, and we expect this will increase the EV transition in scooter category,” Niranjan Gupta added.