By P.R. Venkat

Hero MotoCorp Ltd.'s fourth-quarter net profit jumped 45% from a year earlier, supported by a strong rebound in vehicles sales that were hit due to Covid-19 lockdown in India last year.

Net profit for the quarter ended March came in at 8.81 billion rupees ($119.7 million), while revenue jumped to INR86.90 billion from INR63.33 billion, the world's largest motorcycle maker said late Thursday.

"While a late recovery towards the second half of the FY'21 saw the company gain strong volumes, the broader market continues to suffer in view of the recent escalations in Covid-19 cases," the company said.

It said its premium segment also grew in the quarter thanks to a strategic partnership with Harley-Davidson Inc.

During the fourth quarter, the company sold 1.57 million units of motorcycles and scooters, registering a near 19% rise from the year-ago period.

"Going forward, we continue to remain cautiously optimistic on the demand for personal mobility despite the challenging circumstances," it said.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

05-06-21 2045ET