The company in the same period last financial year had Rs. 1,053.81 crore in net profit was reported. Analysts had expected the company to post Rs. 1,156 crore in net profit.
Income from operations increased by 11% during the period under review to Rs. 10,463.21 crore, which in the year-ago period was Rs. 9,445.43 crores.
The company reported its highest ever quarterly revenue from parts, accessories and merchandise at Rs. 1456 crore in Q2FY25.
EBITDA (earnings before interest, tax, depreciation and amortization) margin for the quarter was 14.5%, up 40 bps over the previous year.
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Niranjan Gupta, Chief Executive Officer (CEO), Hero MotoCorp said, “We continued our exceptional performance in Q2 FY’25, once again setting new highs in both topline and bottomline. As a result of our strong focus on cash management, we have delivered strong cash flow and strengthened our financial position.”
Two-wheeler sales rose 7.3% to 15.20 lakh in the last quarter, as against 14.16 lakh in the second quarter of last fiscal. The company said its existing line-up of brands continues to deliver in the entry and deluxe segments (up to 125 cc segment). It is working on strengthening its portfolio at the more premium end of the market, and will launch three more motorcycles in this space. In the next six months, Hero is set to launch three more petrol scooters and more affordable electric vehicles later this fiscal.
“Apart from the portfolio, we will continue to expand premia stores with a target of crossing 100 by the end of the current financial year. Our strong financial position will allow us to now invest aggressively behind brand building”, informed Gupta.
Hero MotoCorp said it recorded its highest ever retail sales of 1.6 lakh units in the recently concluded festive season, supported by high demand from the rural sector. “We believe a strong monsoon will help boost the industry going forward. Fundamentals look good for the Indian economy in general and the 2 wheeler industry in particular,” added Gupta.
Shares of Hero MotoCorp rose 1.84% on the Bombay Stock Exchange (BSE) to Rs. closed at 4604.30. The results were announced after market hours.
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