Hero MotoCorp Q2 Net Profit Rises To Rs 763 Crore

Beating market estimates, India’s largest two-wheeler maker Hero MotoCorp Ltd on Thursday posted a 58.62% jump in the net profit to Rs 763 crore for the second-quarter ended September 30.  Hero had recorded a net profit of Rs.481 crore a year ago.

The company’s turnover rose 20.76% to Rs 6,915 crore for the reported quarter as compared to Rs 5,726 crore during the year ago period.

The company's total sales during the quarter stood at 16,92,593 units in terms of volumes.

Pawan Munjal, vice-chairman and managing director, Hero MotoCorp, said, “We are only beginning to see how strong an impact we can make on the market with our innovation and technological improvements. A concerted focus on costs has enabled us to have good margins.”

"These numbers bode well for the festive season and we are looking at leveraging this momentum to ensure record retail sales in the month of October," he added.

According to Munjal, with the new stable government at the Centre, the sentiment in the entire country has turned positive.

"The rupee depreciation, which had adversely impacted several sectors, and pulled up the costs of essential commodities, has also more or less stabilised. We will continue to be innovative in tackling any extraneous pressures to protect our margins," he added.
(Image: Hero MotoCorp)