The company had posted net profit of Rs 620.71 crore in the corresponding quarter of the previous financial year.
Nomura Securities had expected the two-wheeler maker to post a 28% increase in net profit at Rs 794 crore for the fourth quarter ended March 31, 2021. Revenue and Ebitda, meanwhile, were expected to rise 33% each to Rs 8,493.8 crore and Rs 1,102.3 crore, respectively.
Revenues from operations rose 39% to Rs 8685.97 crore in the period under consideration. Total expenses last quarter went up 32.7% to Rs 7644.23 crore.
“We expect 33% YoY growth in revenues led by 18% growth in overall volumes and price increase due to BS-6 models. Margins are likely to decline 150 bps QoQ on rising commodity costs,” Nomura had said in its result expectations report.
