Hero MotoCorp share price: Shares of Hero MotoCorp, India’s largest two-wheeler maker, rose 5% on Monday, November 18. The company released its financial results for the July-September quarter of the current fiscal year.
In early trade, the stock climbed as much as 5% and was trading at ₹4,835 per share on the NSE. At 9:23 am, the stock was trading 4.2% higher at ₹4,797.20 per share. The company has a market capitalisation of ₹96,179.44 crore.
Hero MotoCorp results
Hero MotoCorp on Thursday said its consolidated net profit for the three-month period ended September 30, 2024 rose 6% to ₹1,066 crore on the back of higher sales.
Revenue from operations rose to ₹10,483 crore in Q2 FY25 from ₹9,533 crore a year ago, Hero MotoCorp said in an exchange filing.
The company sold 15.2 lakh units of motorcycles and scooters in the quarter under review as against 14.16 lakh units in the same period last fiscal.
Commenting on the earnings, Niranjan Gupta, CEO, Hero MotoCorp, said, “Our strong focus on cash management has resulted in strong cash flows, further strengthening our financial position.
Stating that the company’s current lineup is performing well in the entry and deluxe segments, he said the company’s journey to build a strong portfolio in the premium segment is progressing rapidly.
Gupta added that, “As unveiled at EICMA, we will see three more models in this segment in the next 6 months – Xpulse 210, Xtreme 250R and Karizma XMR 250. Across the portfolio, we will continue to expand Premia stores, aiming to cross 100 by the end of the current financial year.” The Hero MotoCorp CEO said the company recorded its highest ever retail sales of 16 lakh units in the recently concluded festive season, driven by higher demand from the rural sector.
In the year-ago period, the company had reported a post-tax profit of ₹1,007 crore.
+ There are no comments
Add yours