Hero MotoCorp, a leading player in the automotive industry, announced a remarkable 51 percent increase in net profit to Rs 1,073 crore for the October-December quarter of the current fiscal year. The two-wheeler manufacturer witnessed substantial growth in revenue from operations, soaring by 21 percent year-on-year to reach Rs 9,724 crore during the same period.
In a significant move, the company's board has proposed an interim dividend of Rs 75 per share for the ongoing fiscal year. Additionally, recognizing the centennial year of Chairman Emeritus Dr. Brijmohan Lall Munjal, the board has recommended a special dividend of Rs 25 per share. This brings the total interim dividend for the financial year 2023-24 to Rs 100 per equity share.
The board has set February 21, 2024, as the record date for determining the entitlement of members for receiving the interim and special dividend, as highlighted in the company's exchange filing. This decision underscores Hero MotoCorp's commitment to delivering value to its shareholders while commemorating the legacy of its esteemed Chairman Emeritus.
(With Agency Inputs)
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