Hero MotoCorp, the country's largest two-wheeler manufacturer, posted a huge 36 per cent jump in standalone net profit for the April-June quarter of the current fiscal at Rs 1,123 crores from Rs 825 crores in the same period of 2023-24.
The company attributed the surge in profit due to good sales, revival in the rural market, and an effective new product lineup.
Hero MotoCorp's revenue from operations went up 16 per cent in the quarter at Rs 10,144 crore as against Rs 8,767 crore in the same period last year.
On consolidated basis, first-quarter figures were a revenue of Rs 10,211 crore and a net profit of Rs 1,032 crore.
EBITDA surged 21 per cent to Rs 1,460 crore as the operating margin rose 0.6 per cent to 14.4 per cent.
Hero MotoCorp has seen positive trends across its domestic, EV, and international markets in the current quarter. Supported by good customer sentiments, showers of a good monsoon, and the impending festival season, the company remained optimistic about sustaining the growth momentum.
According to Niranjan Gupta, chief executive officer, Hero MotoCorp, "We are seeing a good recovery in our market share in the 125 cc segment, thanks to our new Xtreme 125 cc model. We dominate also the entry and deluxe 100/110 cc segments with a market share of over 70 per cent through models like Splendor, Passion, and HF Deluxe.".
He further stated that the company would work towards enhancing its presence in the premium segment as some recent launches are favoring the move and will revive the scooter segment in upcoming quarters. Apart from this, EV brand Vida of Hero MotoCorp also registered increasing market share and aims to launch more affordable models in the current financial year itself.
On Tuesday, the share price of Hero MotoCorp was around Rs 5,229.55 per share.
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