Mumbai: Hero MotoCorp reported a standalone net profit of Rs 1,123 crore for the quarter ending June 30, 2024, on Tuesday, reflecting a 36% rise from the Rs 825 crore recorded in the same quarter the previous year.
The company’s operational revenue for the quarter reached Rs 10,144 crore, a 16% increase compared to Rs 8,767 crore in the same period of the last fiscal year.
Additionally, the EBITDA margin improved year-over-year, reaching 14.4%.
In its exchange filing, the two-wheeler manufacturer stated that it achieved its highest-ever PAT after accounting for exceptional items.
Conversely, the consolidated revenue and profit after tax (PAT) for the quarter stood at Rs 10,211 crore and Rs 1,032 crore, respectively.
Hero MotoCorp witnessed favourable trends across its domestic, electric vehicle (EV), and international segments during the quarter. The company also recorded a sequential rise in retail sales, as indicated by VAHAN data.
“We are seeing a sharp recovery in market share in 125 cc segment charged by the new model Xtreme 125 cc, while we continue to maintain formidable market share in entry and deluxe 100/110 cc segment of over 70% powered by our brands like Splendor, Passion, and HF deluxe. Our focus moving forward will be, building our brands in premium segment on the back of launches done in last few quarters, to win in this segment. We will be launching new models in scooters as well in next 2 qtrs., to re‐energise this portfolio,” Gupta further added.
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