New Delhi, May 8 : Two-wheeler giant Hero MotoCorp on Wednesday reported an 18.4 per cent increase in its standalone net profit at Rs 1,016 crore for the January-March quarter of 2023-24, on the back of robust sales and higher selling prices for its products.

The company had made a net profit of Rs 859 crore in the same quarter last year.

The bike maker posted a 14.6 per cent growth in total revenue to Rs 9,519 crore in Q4FY24 as compared to Rs 8,307 crore in the same period last year.

HeroMotoCorp declared a final dividend of Rs 40 per share of Rs 2 face value.

"This dividend together with the interim and special dividend, marking the centennial year of Chairman Emeritus Dr Brijmohan Lal Munjal, of Rs 100 per equity share, takes the aggregate total dividend for the year 2023-24 to Rs 140 per equity share," a company statement said.

/IANS