Revenue from operations increased 4% on year to Rs Rs 9445.42 crore, and was also above the estimated Rs 9,209 crore. Earnings before interest, taxes, depreciation and amortization or EBITDA for the quarter increased by 28% on year to Rs 1,328.29 crore. This was likely aided by easing input costs, price hikes, and a favourable product mix.
Even as the company reported a robust increase in net profit, Hero MotoCorp Executive Chairman Pawan Munjal took a voluntary pay cut, according to a company filing with the exchanges.